Ex C-Way Sales Manager Arraigned Over Alleged N99m Fraud, Remanded In Kirikiri

CYRIACUS IZUEKWE

A 38-year-old former Sales Manager and E-commerce officer of C-Way Company Nig. Ltd., Adetoye Mikail, has been arraigned before a Lagos Magistrate’s Court over alleged misappropriation of N99,028,000 belonging to the company.

Mikail was arraigned on Tuesday before Magistrate Mrs. O. Kasunmu on a two-count charge filed as Charge No. He/6/91/2026 between the Commissioner of Police and the defendant.

The prosecution, led by SP Phillip Ademigbuji, alleged in Count One that the defendant, between April and June 2026, while serving as Sales Manager and E-commerce officer to C-Way Company Nig. Ltd. within the Lagos magisterial district, absconded with the sum of Ninety Nine Million Twenty Eight Thousand Naira (N99,028,000) to an unknown destination.

The offence is said to be contrary to Section 280 of the Criminal Laws of Lagos State of Nigeria, 2015, which deals with stealing by a person in a position of trust.

In Count Two, the prosecution alleged that the defendant on the same date, time and place, fraudulently converted the said N99,028,000, property of C-Way Food and Beverages Nig. Ltd., to his own personal use. The offence is punishable under Section 348 of the Criminal Law of Lagos State, Nigeria, 2015.

The defendant pleaded not guilty to the charges when they were read to him in court.

Following his plea, the prosecutor, SP Ademigbuji, asked the court for a trial date and urged the court to remand the defendant pending trial.

In her ruling, Magistrate Mrs. O. Kasunmu granted the defendant bail with two sureties who must show evidence of means of livelihood and evidence of tax payment to the Lagos State Government.

The magistrate ordered that the defendant be remanded at the Correctional Centre, Kirikiri Town, pending the perfection of his bail conditions.

The court adjourned the matter for mention to allow the defence team to perfect the bail and for trial to commence. The charge sheet was prepared by Inspector Etim Clement of the legal department and approved by the District Prosecutor’s Office, Ogba.

Legal practitioners say bail conditions requiring evidence of tax payment and means of livelihood are standard in Lagos Magistrate Courts for financial crime cases. The conditions are meant to ensure that sureties are traceable, credible and capable of standing for the defendant throughout the trial period.

Corporate fraud experts note that sales and e-commerce managers often handle large volumes of online transactions, customer payments and inventory records, making strong internal auditing systems essential to prevent losses.

The Lagos State Police Command has in recent months intensified the investigation and prosecution of insider-related corporate fraud. Police authorities have urged companies to strengthen internal controls and promptly report suspected diversions to law enforcement agencies for timely action.

The management of C-Way Food and Beverages Nig. Ltd. has yet to issue an official statement on the arraignment.

The defendant remains presumed innocent until proven guilty by the court.