Lagos Court Delivers Judgment in ₦30.6 Million Fraud Case
A Lagos Special Offences Court sitting in Ikeja has delivered a significant verdict, convicting a consulting company for a major financial fraud. The court found AAC Consulting Limited guilty of dishonestly converting over ₦30.6 million belonging to contract staff of Chevron Nigeria Limited.
Details of the Conviction and Sentencing
Justice Rahman Oshodi, presiding over the case, announced the judgment yesterday after a thorough legal process. The company was convicted for stealing the sum of ₦30,564,635.81, which had been entrusted to it for the benefit of the affected workers. As part of the sentencing, the court imposed a ₦5 million fine on AAC Consulting Limited, to be paid within 14 days.
Justice Oshodi issued a stern warning that failure to comply with this order would result in the winding up of the company. He emphasized that the decade-long delay in refunding the money highlighted the criminal nature of the act, despite the eventual repayment in December 2023.
Background and Legal Proceedings
The case has a long history, dating back to 5 June 2023, when AAC Consulting Limited and its Managing Director, Anthony Adeoye, were first arraigned. They faced a 50-count charge of stealing and issuing dud cheques, to which both defendants initially pleaded not guilty, leading to a full trial.
During the trial, the prosecution, led by I. O. Daramola, presented two witnesses and tendered several documentary exhibits, all admitted by the court. Following the repayment of the disputed sum to the petitioner in December 2023, the defendants changed their plea. The Economic and Financial Crimes Commission (EFCC) subsequently amended the charge to a single count of stealing.
On 12 January 2026, AAC Consulting Limited was arraigned on this amended charge, contrary to Section 285(1) of the Criminal Code, Cap 34, Vol. 44, Laws of Lagos State, 2011. The charge specified that on or about 27 April 2013, within the Ikeja Judicial Division of Lagos State, the company dishonestly converted the funds to its own use.
Implications for Corporate Accountability
This judgment underscores the importance of corporate accountability and serves as a deterrent against financial crimes in Nigeria. Justice Oshodi stressed that such actions undermine trust in business practices and must be met with strict legal consequences to protect victims and maintain integrity in the financial sector.
The case highlights the ongoing efforts by the EFCC to combat fraud and enforce justice, particularly in high-profile instances involving corporate entities. It also reflects the judiciary's role in addressing complex financial crimes that affect workers and businesses alike.
