N190 million theft from Ronchess Global Resources-EFCC arraigns man over alleged
The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) has charged Mr. Samson Davies and his firm, Signature Advisory Limited, with one count of stealing N190,791,494 from Ronchess Global Resources Plc, a construction company.
The suspect appeared before Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos.
The EFCC confirmed the development in a statement released on Tuesday.\
The EFCC Case
The Commission claims that the defendants committed theft in violation of applicable legislation when they allegedly converted the aforementioned money that belonged to Ronchess Global Resources Plc.
The charge is as follows:
The total amount of N190,791,494 (one hundred and ninety million, seven hundred and ninety-one thousand, four hundred and ninety-four Naira) that belonged to Ronchess Global Resources Plc was dishonestly converted to your own use by Samson Davies and Signature Advisory Limited sometime between October 2022 and October 2023 in Lagos, within the jurisdiction of this Honorable Court.
In court, what transpired
The registrar read the charge to the defendant during the court session, and he entered a plea of “not guilty” to the single count.
- Following his plea, prosecution counsel C.C. Okezie asked the court to fix a trial date to enable the prosecution to prove its case against the defendants.
- The prosecution also prayed that the court remand the defendant at a Correctional Centre.
- However, defence counsel Ifeoma Esom drew the court’s attention to the defendant’s bail application, which had already been filed.
- The lawyer urged the court to grant the defendant bail on the most liberal terms.
- Ruling on the bail application, Justice Dada granted the defendant bail in the sum of N50 million, with two sureties in like sum.
“One of the sureties must own landed property in Lagos, and the defendant is to submit his international passport to the court. The sureties must also provide evidence of tax clearance,” the judge held, according to the EFCC statement.
- The judge further ordered that the defendant be remanded at the Nigerian Correctional Facility pending the perfection of his bail conditions.
- The case was subsequently adjourned to July 7, 2025, for the commencement of trial.
N190 million theft from Ronchess Global Resources-EFCC arraigns man over alleged
What to Know
- While this case highlights the EFCC’s role in the anti-corruption war, the allegations remain unproven in court until the judge makes a final pronouncement after reviewing evidence from both parties.
- The legal teams on both sides are expected to present evidence and relevant legal arguments to convince the court.
Join Our Social Media Channels:
WhatsApp: NaijaEyes
Facebook: NaijaEyes
Twitter: NaijaEyes
Instagram: NaijaEyes
TikTok: NaijaEyes
