Alleged N12m Cashew Theft: Court Grants Ibukun Akinsuyi Bail With Two Sureties

According to the charge sheet filed by the Lagos State Police Command, Tactical Squad 1, the incident occurred on March 12, 2026 at about 1:00pm at Gangrace Resources Warehouse opposite Capitol House, along Oshodi-Apapa Expressway in Lagos Magisterial District.

The defendant, Ibukun Akinsuyi, is facing two counts alongside others said to be at large.

In the first count, the Police alleged that Akinsuyi and others now at large conspired amongst themselves to commit a felony, to wit: stealing. The offence is said to be punishable under Section 411 of the Criminal Law of Lagos State, 2015.

In the second count, the prosecution alleged that on the same date, time and place, Akinsuyi and others still at large provided a motor vehicle with registration No. KTU 724 XY and container No. CAAU830595-7 as transporters to move cashew nuts to Lekki Seaport.

The Police alleged that parts of the cashew nuts were stolen in transit. The stolen goods were valued at Twelve Million Naira. The property was said to belong to Afolabi Bello of Gangrace Nigeria Limited, 2nd Floor, Libra Block, Eleganza, Apapa, Lagos. The offence was said to be contrary to Section 280 and punishable under Section 287 of the Criminal Law of Lagos State, 2015.

The charge sheet was signed and filed by SP Banti Adamu of O/C Command Tactical SQ-I, State Headquarters, Ikeja. The Directorate of Public Prosecutions, Lagos State Ministry of Justice, also gave approval for the prosecution to proceed.

The case was mentioned before Magistrate Mr. L.A. Owolabi. The prosecution was led by SP Josephine Ihkayere.

The defendant pleaded not guilty to the charges.

Magistrate Owolabi granted the defendant bail with two sureties, who must show evidence of means of living and payment of tax. The court ordered that the defendant be remanded in custody at the Kirikiri Correctional Centre pending when he will perfect the bail conditions.

The complainant in the matter was Afolabi Bello. The Investigating Police Officer was Idoko Daniel.

Under the Criminal Law of Lagos State 2015, Section 411 deals with conspiracy to commit a felony, while Section 280 defines stealing and Section 287 provides punishment for stealing.

Legal experts note that a charge does not amount to conviction. The defendant is presumed innocent until proven guilty by the court.

Police authorities say investigation is ongoing to apprehend other suspects said to be at large in connection with the alleged theft.

The case adds to concerns over cargo theft along the Apapa-Oshodi corridor, a major route for goods moving to and from Lagos ports.