EFCC arraigns two over N560m theft as suspects and a company face trial in Lagos over alleged diversion of funds

The Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC) on Monday arraigned Olivia Dike and Azeez Muniru Siyanbola before the Lagos State High Court in Ikeja over the alleged theft of N560 million.

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The defendants were arraigned alongside Eniafelamo Global Seven Nigeria Limited on a three-count charge bordering on stealing.

The case was brought before Justice R.O. Oshodi, with the EFCC alleging that the defendants unlawfully converted funds belonging to Peachland West Africa Limited and an individual, Iyke Stephen Okpaji.

According to one of the charges, Olivia Dike, Azeez Muniru Siyanbola, Eniafelamo Global Seven Nigeria Limited and one Taoheed Lekan Abdrahman, who is currently at large, allegedly stole and converted N560 million to personal use between July 2024 and February 2025.

The charge stated that the alleged offence was committed within Lagos State and contravened Sections 278(1)(b) and 285(9) of the Criminal Law of Lagos State, 2011.

When the charges were read in court, both defendants pleaded not guilty.

Following their pleas, prosecution counsel Nnaemeka Omewa requested a trial date and urged the court to remand the defendants in correctional facilities pending the determination of their bail applications.

Justice R.O. Oshodi subsequently adjourned the matter until July 10, 2026, for the hearing of bail applications and the commencement of trial.

The court also ordered that Olivia Dike be remanded in a female custodial centre, while Azeez Muniru Siyanbola was remanded in a maximum-security correctional facility pending further proceedings.

The EFCC Arraigns Two Over N560m Theft case is expected to continue next month when the court considers bail applications and begins hearing evidence from both parties.