Chief Magistrate O.O. Olatunji of the Igbosere Magistrate’s Court in Lagos State has remanded a sales manager, Victor Ojo Olubunmi, at the Ikoyi Correctional Centre over the alleged theft of N82,208,000 worth of goods from his employer.

The 26-year-old suspect, an employee of Deep K Tyagi Foundation Nigeria in Iddo-Oyingbo, was accused of selling goods entrusted to him between July 1, 2023, and May 19, 2025, and converting the proceeds for personal use, before switching off his phones and going into hiding without remitting the funds.

A representative of the employer, Adeyemi Eyiowunmi, was said to have raised the alarm when attempts to reach Mr Olubunmi failed. 

A petition was subsequently filed with the Assistant Inspector General of Police, Zone 2 Command, AIG Adegoke Fayoade, who ordered a manhunt. The suspect was later traced and arrested at a hideout in Lagos.

According to the police, the suspect is also alleged to have forged Zenith Bank payment receipts for N235,000 and N207,300 in a bid to falsely convince his employer that he had deposited part of the sales proceeds.

The suspect is facing a four-count charge bordering on conspiracy, stealing, forgery, and conduct likely to cause a breach of peace.

Police prosecutor DSP Francis Igbinosa said the suspect’s offences contravened Sections 413, 287, 365, and 168(1)(d) of the Lagos State Criminal Law, 2015.

The suspect, however, pleaded not guilty to all charges. 

The magistrate granted him bail and adjourned the case to June 27, 2025, for mention. 

He is to remain in custody until he meets his bail conditions.