CYRIACUS IZUEKWE
Two persons, Onwuachi Omotolani Funmilayo, 25, and Onwuachi Kingsley Funanya, 33, have been arraigned before the court over alleged conspiracy and stealing of Seven Million, Nine Hundred and Sixty Five Thousand Naira, N7,965,000, belonging to an investment company in Ogba, Lagos.
According to Police documents, the defendants were arrested by operatives attached to Area G Command, Ogba, following a complaint by Quidcycle Capital and Investment Limited, located at Thomas Salako Street, Ogba, Lagos.
The charge sheet with Charge No. Police/15/125/1, filed by the Commissioner of Police, stated that the incident allegedly occurred on or before September 9, 2026, at about 1400hrs at Quidcycle Capital and Investment Limited, within the Ikeja Magisterial District.
In Count One, the Police alleged that Onwuachi Omotolani Funmilayo and Onwuachi Kingsley Funanya and others now at large, on or before the said date, did conspire among themselves to commit felony to wit, stealing.
The offence of conspiracy is said to be contrary to and punishable under Section 411 of the Criminal Law of Lagos State, Nigeria, 2015.
In Count Two, the Police alleged that the defendants and others still at large, on the same date, time and place, did steal the sum of N7,965,000, property of Quidcycle Capital and Investment Limited, by converting same to their own use.
The offence is said to be contrary to Section 280 and punishable under Section 287 of the Criminal Law of Lagos State, Nigeria, 2015.
Police sources said the matter was reported by the management of the investment firm, who alleged that funds belonging to the company could not be accounted for. Following the report, operatives commenced investigation which led to the arrest of the two suspects, while efforts are ongoing to arrest other persons mentioned in the case who are now at large.
The Lagos State Police Command has reiterated its commitment to tackling cases of conspiracy, stealing and conversion of company funds, especially within financial institutions.
Residents and business owners in Ogba area described Thomas Salako Street as a busy commercial hub with several financial and investment firms. They commended the Police for swift intervention in the matter.
Legal practitioners note that offences of conspiracy and stealing under Lagos State law carry serious penalties, but that the court will have to examine the evidence presented by the prosecution to determine culpability.
However, the defendants pleaded not guilty to the charges against them.
The prosecutor, SP Phillip Ademigbuji, asked the Court for trial date to enable the Police to prove the allegations against the defendants.
The presiding Magistrate, Mrs.O. Kusanu, granted them bail with sureties who must show evidence of means of livelihood and tax payment.
The defendants were remanded in custody at the Correctional Center at Kirikiri town, Lagos, pending the perfection of bail conditions.
It is important to note that the defendants are presumed innocent until proven guilty by a court of competent jurisdiction. Every accused person has the right to fair hearing.
The Police said investigation is ongoing and that the case file has been forwarded for necessary action.