In a notable case that underscores the importance of corporate vigilance and accountability, 27-year-old accountant Oke Peter was arraigned before the Badagry Chief Magistrates’ Court in Lagos on Friday, September 12, 2025, over allegations of defrauding his employer of N4.5 million. Peter, who pleaded not guilty to the one-count charge of stealing, appeared before Chief Magistrate Nurudeen Layeni.
The prosecution, led by ASP Edet Ekpo, detailed that the alleged offence took place on September 5 at Mega Mart Mall Limited, located in the Mowo area of Badagry, where Peter reportedly diverted N4.5 million from the company’s sales capital, funds belonging to his employer, Mr. David Uniugbe. The complainant promptly reported the matter to the police, resulting in the arrest of the accountant. ASP Ekpo noted that the alleged act violated Section 287 (7) of the Lagos Criminal Law, 2015.
Magistrate Layeni granted bail to Peter in the sum of N1 million, with two sureties of the same amount, and scheduled the next court mention for October 10, 2025.
The case serves as a critical reminder to business owners and the public alike to exercise heightened vigilance in financial transactions and corporate oversight. Authorities are urging employers to implement robust internal controls and verification measures to prevent fraudulent activities and ensure that any suspicious transactions are immediately reported to law enforcement agencies.
The Lagos State Police further encourages the public to remain alert and proactive in reporting any financial irregularities, emphasizing that community cooperation is vital to curbing fraud and ensuring a safe business environment.
Reported by: Stone Reporters News
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