Man, 39, Arraigned Before Court For Siphoning Company’s N64m
Posted on June 5, 2025
Police operatives from the Cyber Security Squad, State Headquarters, Ikeja, Lagos have arrested a 39-year old man, Macdonald Ekeada, for allegedly stealing over N64m belonging to Omni Retails Technology under the Management of Mr. Isreal Adeyemi.
P.M.EXPRESS reports that the suspect, Ekeada, has been charged for the alleged stealing under the Criminal Laws of the State.
According to the Police, the suspect, who resides at Lantana Avenue Ikota, GRA, Lekki Lagos had on 13th August,2024 at the company located Cawe way, Ijora, Lagos, stolen the money with the hope that the company will not know.
However, during an internal audit, the company discovered that the money was missing and reported the matter to the Police. The operatives moved into action, arrested the suspect and detained him for interrogation over the missing money.
After rounds of interrogation, the Police found him culpable and charged him before the Ogba Magistrate Court for the alleged offence, which attracts several years of imprisonment.
The charges read:
COUNT 1: “That you, Macdonald Ekeada ‘m’ of Lantana Avenue Ikota, GRA, Lekki Lagos, on August 13, 2024, at about 10:40hrs at Cawe way, Ijora Lagos State in Lagos Magisterial District, did obtain the sum of Six Four Million Two Hundred and Twenty Five Thousand Naira (N64,225,000.00) being money belonging to Omni Retails Technology under the Management of Mr. Isreal Adeyemi and thereby committed an offence contrary to Section 314 (1) (a) (b) and punishable under Section 314 (3) subsection (1) (2) of the criminal law of Lagos State of 2015.”
COUNT II: “That you, Macdonald Ekeada ‘m’ on the same date, time and place in the aforesaid Magisterial District, did steal the sum of Six Four Million Two Hundred and Twenty Five Thousand Naira (N64,225,000.00) only, belonging to Omni Retails Technology under the management of Mr. Isreal Adeyemi ‘m’, which you converted to your personal use and thereby committed an offence contrary to Section 280 (2) (c) and punishable under Section 287 of the criminal law of Lagos State 2015.”
However, he pleaded not guilty.
The prosecutor, Supol Josephine Ihkayere, 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, Mr. L.A Owolabi, 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 at Kirikiri town, Lagos, pending when he will perfect his bail conditions.
