A Lagos-based employee, Bello Saheed Samuel, has been arraigned before a Federal High Court in Lagos over allegations of diverting ₦90 million belonging to his employer, an investment firm where he worked in the finance department.
According to findings by investigators, Samuel allegedly executed a series of insider transactions through which he siphoned company funds. Shortly after the fraud was uncovered, he reportedly fled Lagos with his family and switched off all communication lines in an attempt to evade arrest.
The spokesperson for the Police Special Fraud Unit (PSFU), DSP Ovie Kenneth Ewhubare, said in a statement on Tuesday that the suspect was eventually tracked down and arrested in Oye-Ekiti Local Government Area of Ekiti State. The arrest followed a coordinated manhunt across several South-West states.
DSP Ewhubare added that Samuel allegedly laundered the stolen funds using bank accounts belonging to friends and relatives to conceal the source of the money.
He has now been charged with conspiracy and money laundering, while further investigations are underway to identify and apprehend other individuals suspected to be connected to the alleged fraud.
Commenting on the case, the Commissioner of Police, Police Special Fraud Unit, Lagos, CP Kayode Ojapinwa, reaffirmed the unit’s commitment to combating financial crimes nationwide. He also urged companies to strengthen internal control measures and closely monitor staff activities to curb insider-driven financial misconduct.
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