Elbe Pharma Manager Docked For Allegedly Stealing Company’s Goods Worth N27.7m

P.M.EXPRESS reports that he has been arrested and charged for criminal conversion of goods and money.

According to the Police, it happened between the January, 2024 and January, 2025.

The alleged fraud got exposed after the company conducted an internal audit and discovered that the goods were sold but the money was not remitted to the company’s account.

The matter was reported to the Police at SCID, Yaba. The suspect was arrested and detained for interrogation over the alleged missing goods and money.

After interrogation, the Police found him culpable and charged him before the Ebute Metta Magistrate Court for the alleged offence, which attracts several years of imprisonment.

The charge read: “That you, Okuh Stanley Okechukwu”M”, a staff of ELBE PHARMA NIGERIA LIMITED, between the month of January, 2024 and the month of January, 2025, being the regional manager, fraudulently sold and converted goods and money of the company worth N27,755,667 (Twenty Seven Million, Seven Hundred and Fifty Five Thousand, Six Hundred and Sixty Seven Naira) only to your own personal use and thereby committed offence contrary to Section 280 of the Criminal Law of Lagos State, 2015 and punishable under Section 287 of the aforementioned law.”

He pleaded not guilty.

The prosecutor, Mr. M.U. Okolie Esq, then asked the Court to give a date for hearing since he pleaded not guilty to enable the Police to prove that he actually committed the alleged offence.

The Presiding Magistrate, Mrs. F.M.Kayode-Alamu, granted him bail with two sureties, who must show evidence of means of livelihood and tax payment while addresses will be verified by the Court.

The matter was adjourned for mention while the defendant was remanded in custody at the correctional center pending when he will perfect his bail conditions.