EFCC arraigns accountant for alleged N200 million theft

The Economic and Financial Crimes Commission (EFCC) has arraigned an accountant, Oguibe Nkwachukwu, and his company, Wifamapp Royalty Global Limited, before the Lagos State High Court in Ikeja over the alleged theft of about N200 million.

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The prosecution accused the defendant of stealing the money from Travelstar Web Logistics Limited.

In a statement on Monday, the anti-graft agency said Mr Nkwachukwu, who served as an accountant with the logistics firm, was arraigned alongside his company before a judge, Rahman Oshodi on 13 counts of stealing and dishonest conversion of funds.

According to the EFCC, the defendant allegedly diverted various sums of money entrusted to him by his employer into personal accounts under the guise of legitimate business transactions.

One of the counts alleged that Mr Nkwachukwu, as the alter ego of Wifamapp Royalty Global Limited, and Wifamapp Royalty Global Limited, incorporated in March 2020, “dishonestly converted” $36,000 (about N54 million) belonging to Travelstar Web Logistics Limited and entrusted to him as the company’s accountant.

Another count accuses the defendant of converting an additional $156,000 (about N146 million) belonging to the same company between January and July 2018.

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The prosecution said the offence of stealing was contrary to Sections 280(1)(b), 280(2)(f), and 287 of the Criminal Law of Lagos State, 2015,” one of the counts reads.

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Mr Nkwachukwu pleaded not guilty to all the charges when they were read to him.

Following the plea, the prosecution counsel, A.A. Usman, applied for a trial date and prayed the court to remand the defendant in a correctional facility.

However, the defence counsel, Kelvin Uzozie, informed the court of a pending bail application and urged that his client be remanded in EFCC custody pending the hearing.

After listening to both parties, the judge adjourned the matter till 17 October for the hearing of the bail application and ordered that the defendant be remanded at the Kirikiri Correctional Centre, Lagos.