Employee Arrested After Allegedly Stealing ₦90 Million from Lagos Investment Company

A staff member of a Lagos-based investment firm has been arraigned in court for allegedly embezzling ₦90 million belonging to his employer.

Bello Saheed Samuel, who worked in the company’s finance department, is accused of orchestrating an insider fraud scheme to divert the funds. After the theft was uncovered, Samuel reportedly fled Lagos with his family, severing all communication in an attempt to evade arrest.

According to the Police Special Fraud Unit, operatives conducted a multi-state search across southwestern Nigeria before locating and apprehending Samuel in Oye-Ekiti Local Government Area of Ekiti State.

Investigations revealed that the suspect allegedly laundered the stolen money through bank accounts belonging to friends and relatives to conceal its source.

Samuel has been charged with conspiracy and money laundering at the Federal High Court in Lagos. The Police Special Fraud Unit stated that investigations are ongoing to arrest other individuals involved in the fraud.

The Commissioner of Police for the Unit, CP Kayode Ojapinwa, reiterated the commitment to tackling financial crimes and advised organizations to strengthen internal controls and employee monitoring to prevent insider fraud.