Inside N90.4M Gift Card scam that landed Lagos Manager in prison

By Paul Iyoghojie

A 29-year-old Sales Manager with Tonic Technologies, Kehinde Afolabi, has been remanded in prison custody for allegedly masterminding a shocking N90.4 million fraud against his employer.

The police at the Maroko Division, Lekki, Lagos, swooped on Afolabi after he was accused of secretly selling off the company’s tosh gift cards and diverting the proceeds—meant for the company’s account—into his personal bank account.

According to investigators, Afolabi allegedly instructed unsuspecting customers to transfer payments directly into his own account rather than the company’s, effectively hijacking the revenue stream from January to March 2025.

The alleged scam came to light during an audit by the company, which revealed that Afolabi had not only rerouted transactions but had also opened a separate account to receive payments for the cards. The result: a staggering N90.4 million hole in the company’s finances.

Shocked by the discovery, the company’s management swiftly lodged a complaint with the Divisional Police Officer of Maroko Division, CSP Raji Ganiyu, who immediately launched an investigation.

Officers tracked and arrested the suspect, who was then charged before the Tinubu Magistrate’s Court in Igbosere on a two-count charge of conspiracy and stealing.

Police Prosecutor, Reuben Solomon, told the court that the offences were committed at 1, Alhaji Yekini Bakare Street, Orchid Road, Lekki Phase I, and fall under Sections 411 and 287(7) of the Lagos State Criminal Law, 2015.

Despite the weight of the allegations, Afolabi pleaded not guilty.

Presiding Magistrate, Mrs. N.O. Wahab, granted him bail in the sum of N5 million with two sureties in like sum.

However, until the bail conditions are met, Afolabi will remain behind bars at the Ikoyi Correctional Centre.

The case has been adjourned till May 14, 2025, for further mention.