EFCC arraigns man for alleged N45m theft

An Ikeja Special Offences Court on Wednesday remanded a man Ntai Bagshaw for allegedly stealing N45 million.

Justice Olubusola Okunuga remanded Bagshaw at the EFCC custody and adjourned the case until May 22 for hearing of his bail application and commencement of trial.

It was reported that Bagshaw was arraigned alongside his company, Terraworks Ltd, on a two-count charge of illegal conversion and stealing by the Economic and Financial Crimes Commission (EFCC).

The defendant, however, pleaded not guilty.

Earlier, EFCC Prosecutor, Mrs Fadeke Giwa, prayed for a trial date and also to remand the defendant in correctional facility, pending the hearing of his bail application.

Giwa told the court that the defendant allegedly committed the offences sometimes in May 2023 in Lagos.

The prosecution submitted that the defendant allegedly obtained the N45 million under the pretext of using the money to pay for a three-bedroom flat located at Ogudu GRA, Lagos but allegedly failed to do so.

According to the prosecution, the alleged offences contravened Section 1(3) of the Advance Fee Fraud and other Fraud Related Offences Act No 14 of 2006 and Section 278(2)(b) of the Criminal Law of Lagos state, 2011.