Nigerian man sells company’s property to travel abroad

The Lagos State Police has arrested a 28-year-old Nigerian man from Edo identified as Lucky Ibrahim, for reportedly diverting proceeds from sales of his company’s property for the purpose of travelling out of the country.

Nigerian man sells company’s property to travel abroad lailasnews

Lucky who worked with SoundTrax Allied Digital in Benin, Edo State, from January 2015, till March 2017, when he was transferred to Lagos, resumed as the manager of the company’s Lagos office in the Ifako Ijaiye area. However in an attempt to seek greener pasture, he allegedly sold property of the company to raise the required funds to travel to Europe.

While being arraigned before an Ogba Magistrate’s Court on three counts of stealing, conversion of funds and forgery, he said;

“I was not employed by the company to sell their property for personal gains; I did so under no authority. I know I committed the offence and I know it’s against the law.”

The police prosecutor, Michael Unah, told the court that the offences  contravened sections 280, 287 and 365(1) of the Criminal Law of Lagos State, 2015.

The charges read in part, “That you, Lucky Ibrahim, and others still at large, in the month of November 2017, on Mosalashi Alao Street, Ifako Ijaiye, Lagos, in the Lagos Magisterial District, did conspire to commit felony, to wit; stealing.

“That you, Lucky Ibrahim, and others still at large, on the same date, time and place in the aforementioned magisterial district, did conspire to commit felony, to wit; stealing one CAT generator, valued at N2,500,000; two Micra Nissan cars, valued at N700,000; three UPS batteries, valued at N400,000; four cartons of Excelpro, valued at N100,000, property of SoundTrax Allied Digital Ltd, and converted the money to your own use.”

Though the defendant pleaded not guilty to the charges, the presiding magistrate, A.A. Fashola, granted the defendant bail in the sum of N500,000 with two sureties each in like sum. The case involving the company’s property was adjourned till June 27, 2018, for mention.

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