A man named Iwunze Ikechukwu Favour has been charged by the Economic and Financial Crimes Commission (EFCC) with stealing and converting groceries and home items valued at over ₦208 million for his own use before the Lagos State High Court in Ikeja. On Thursday, July 31, 2025, Justice Mojisola Dada performed the arraignment.
Iwunze is charged by the EFCC’s Lagos Zonal Directorate 2 with dishonestly diverting items worth ₦208,384,000 between January and December 2024 in order to defraud one Ogechi Okorie and G-Chinodan Ltd.
The EFCC claims that although the defendant was entrusted with the commodities during that time, he allegedly converted them for his own benefit. Part of the one-count charge is as follows:
Iwunze pleaded not guilty to the charge.
Following his plea, prosecuting counsel A.A. Usman requested the court to fix a trial date and remand the defendant in custody. However, the defence counsel, N.M. Abraham, informed the court of a pending bail application and proceeded to move the motion for his client’s release.
Justice Dada granted the defendant bail in the sum of ₦10 million, with two sureties in like sum. One of the sureties must place a lien on their bank account, and the defendant is to submit his international passport to the court registrar.
The judge ordered Iwunze to be remanded in a correctional facility until his bail conditions are met.
The trial has been scheduled to commence on October 30, 2025.
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What in the world is this???!!! I was actually hit when I read this. I had to read it over and over to understand what I saw 🫢 So, foreigners would keep seeing many Nigerians as less in value