A Federal High Court in Lagos has ordered the remand of Solomon Ejiofor in a correctional centre after he pleaded not guilty to a four-count charge over an alleged N307 million fraud involving Lotus Travels Services Limited.
Ejiofor was arraigned before Justice Deinde Dipeolu on Tuesday, October 6, 2026, following allegations that he presented himself as a tax manager and collected money intended for the settlement of the company’s taxes.
Also read: EFCC charges 38-year-old man over alleged $5,000 fraud in Enugu
Police prosecutor, Barrister Augustine Nwabueze, told the court that the defendant allegedly posed as a Tax Manager with Forvis Mazars while dealing with Lotus Travels Services Limited.
According to the prosecution, the company transferred N307 million into Ejiofor’s bank account for payment of its taxes to the relevant revenue authorities, but he allegedly diverted the funds for personal use.
When the charges were read to him, Ejiofor pleaded not guilty.
Following the plea, the prosecutor asked the court to remand him in the custody of the Nigerian Correctional Service pending the hearing and determination of the case.
The defence counsel did not oppose the scheduling of the trial but informed the court that a bail application had already been filed on Ejiofor’s behalf.
The lawyer said the prosecution had been served with a copy of the application and that the defence was ready to proceed with the hearing.
However, Nwabueze told the court that he had received the application only a day before the arraignment and needed additional time to study its contents and prepare a response.
After listening to both parties, Justice Dipeolu adjourned the case until October 26, 2026, for the hearing of the bail application and commencement of trial.
The four-count charge centres on allegations of obtaining money by false pretence, fraudulent conversion, stealing and conspiracy.
According to the charge, the alleged transactions occurred between January 2020 and September 2025 at locations in Ikeja and Ejigbo, Lagos State.
The prosecution alleged that Ejiofor collected the N307 million on the representation that the funds would be used to settle taxes owed by Lotus Travels Services Limited, but failed to remit the money to the appropriate revenue authorities.
Another count alleges that the funds were fraudulently obtained at intervals and converted to personal use, leaving the company exposed to substantial debts and liabilities.
The conspiracy count further alleges that Ejiofor acted with other individuals who have not been brought before the court in connection with the alleged diversion of the money.
The allegations have placed the handling of company tax payments at the centre of the legal dispute, with the prosecution seeking to establish how the money was obtained and what happened to the funds after they were transferred.
The court proceedings have not established Ejiofor’s guilt. His plea of not guilty means the prosecution must prove the allegations against him in court.
Also read: EFCC charges 38-year-old man over alleged $5,000 fraud in Enugu
The next hearing, scheduled for October 26, will provide an opportunity for both sides to present their arguments on bail as the case moves towards trial.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
