Man Held Over N62m Theft


A former staff of Asoil Energy Limited, Longe Babatunde, 29, has been arrested by the police at Zone 2 Command, Onikan, Lagos State, southwest Nigeria, for allegedly stealing N62.5 million, property of his employer, Omololu Agoro.

He was arraigned before an Igbosere magistrate’s court on a two-count charge of stealing.

The police prosecution alleged in charge F/16/2012 that the accused was arrested following complaints by Omololu Agoro owner of Asoil Energy Ltd that the accused, between January 2008 and April 2012, at Asoil Energy Ltd, situated at 634, Adeyemo Alakija Street, Victoria Island, Lagos, conspired with others now at large to steal his company’s money amounting to N62,589,430 through fraudulent conversions from company sales.

He added that the fraud was detected following an internal audit report carried out by the company.

The offences, the police prosecutor, S. Molo, said are contrary to and punishable under Sections 409 and 285(7) of the Criminal Laws of Lagos State, 2011.

The charge reads: “That you Longe Babatunde and others now at large on the same date, time and place in the aforementioned magisterial district did steal N62,589,430, property of Omololu Agoro of Asoil Energy Ltd.”

The accused pleaded not guilty to the charge and the presiding Chief Magistrate, Mrs. Awope, granted him bail in the sum of N2 million with two sureties in like sum who must be gainfully employed (not self-employed) with proof of tax payment to the Lagos State government.

She adjourned the matter till 25 May, 2012.

When the defendant could not perfect his bail conditions, he was moved to Ikoyi Prison

—Paul Iyoghojie

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