Sales Manager accused of stealing N82m from employer nabbed in Lagos

By Paul Iyoghojie

A 26-year-old sales manager, Victor Ojo Olubunmi, has been remanded at the Ikoyi Correctional Centre for allegedly stealing goods worth N82,208,000 from his employer and going into hiding.

Olubunmi, who was employed by Deep K Tyagi Foundation Nigeria, based in the Iddo-Oyingbo area of Lagos, reportedly sold goods entrusted to him between July 1, 2023, and May 19, 2025, but failed to remit the proceeds.

Instead, he allegedly converted the funds to personal use, switched off his phones, and fled.

The employer, represented by Adeyemi Eyiowunmi, raised the alarm when attempts to reach Olubunmi failed.

A petition was subsequently filed with the Assistant Inspector General of Police, Zone 2 Command, AIG Adegoke Fayoade, who ordered a manhunt. Olubunmi was eventually traced and arrested at a hideout in Lagos through intelligence gathering and tracking.

In addition to the alleged theft, police said Olubunmi forged Zenith Bank payment receipts for N235,000 and N207,300 in a bid to falsely convince his employer that he had deposited part of the sales proceeds.

He was arraigned before Chief Magistrate O.O. Olatunji at the Igbosere Magistrate’s Court on a four-count charge bordering on conspiracy, stealing, forgery, and conduct likely to cause breach of peace.

Police Prosecutor, DSP Francis Igbinosa, told the court that the offences violated Sections 413, 287, 365, and 168(1)(d) of the Lagos State Criminal Law, 2015.

Olubunmi pleaded not guilty to all charges. The magistrate granted him bail and adjourned the case to June 27, 2025, for mention. He is to remain in custody at the Ikoyi Correctional Facility until he meets his bail conditions.