CYRIACUS IZUEKWE
Two men, Anifalaje Lukman, 42, and Adesoye Sunday, 44, were arraigned before a Lagos Magistrate Court sitting in Ikeja over allegations of conspiracy and stealing the sum of N26,753,100.00 from Vitafoam Nigeria Plc.
According to the charge sheet filed by the Commissioner of Police, the alleged offences were said to have occurred between the 16th day of October, 2024 and the 22nd day of October, 2025 at Vitafoam Nigeria Plc, No. 140,
Oba Akran Avenue, Ikeja, in the Ikeja Magisterial District.
In Count 1, the prosecution alleged that Anifalaje Lukman and Adesoye Sunday conspired among themselves to commit felony to wit stealing. The offence was said to be contrary to and punishable under Section 411 of the Criminal Law of Lagos State, 2015.
In Count 2, the Police further alleged that on the same date, time and place, the two defendants stole the sum of N26,753,100.00 (Twenty Six Million Seven Hundred and Fifty Three Thousand One Hundred Naira only) from Vitafoam Nigeria Plc. The offence was said to be contrary to Section 280 and punishable under Section 287 of the Criminal Law of Lagos State, 2015.
The defendants pleaded not guilty to the two-count charge.
The prosecutor, SP Josephine, told the court that investigations into the matter were ongoing and asked for a date to enable the Police to present their evidence.
The presiding Magistrate, Mr. L.A. Owolabi, granted the defendants bail with two sureties. The sureties are required to show evidence of means of livelihood and tax payment to the Lagos State Government.
The matter was adjourned for mention while the defendants were remanded in custody at the Correctional Center at Kirikiri town pending when they will perfect their bail conditions.
The case file was forwarded to the Directorate of Public Prosecutions, DPP Office, Ogba, Lagos State Ministry of Justice for legal advice. The document was signed and dated 15/2/2026. The Investigating Police Officer listed in the charge was ASP Ibrahim Mamman of MAN Center Division, Ikeja, Lagos.
Corporate theft and fraud within companies have become a major concern for businesses in Lagos, especially in the manufacturing sector. Financial experts say internal fraud often involves employees who have access to company funds, inventory, or financial records.
Lawyers and compliance consultants advise companies to strengthen internal controls, conduct regular audits, and segregate duties to prevent collusion among staff. They also recommend background checks, whistleblower policies, and digital tracking of transactions to detect irregularities early.
The Nigeria Employers’ Consultative Association and other business groups have urged employers to report suspected cases of fraud to law enforcement agencies promptly and to cooperate with investigations to serve as deterrence to others.
Legal experts note that conspiracy under Section 411 and stealing under Sections 280 and 287 of the Lagos State Criminal Law are serious offences. Section 411 deals with agreement between two or more persons to commit an unlawful act, while Sections 280 and 287 cover stealing and the punishment for it.
If convicted, offenders may face imprisonment and or fines, depending on the value of the property involved and the decision of the court. The court will determine the case based on evidence presented by the prosecution and the defense during trial.
Every accused person is presumed innocent until proven guilty by a court of competent jurisdiction. All allegations contained in the charge remain accusations and have not been proven.
Members of the public have been advised to await the outcome of judicial proceedings and to refrain from making comments that could prejudice the case.
