By Adebisi Onanuga
A 44-year-old employee of Gold Edge Industries Nigeria Ltd, Hamidu Abdullahi, was on Wednesday arraigned at an Igbosere Magistrates’ Court, Lagos for allegedly defrauding his employer of N26.5million.
He was alleged to have obtained quantities of Value paint worth N26,573,943, from his employer under the disguise of selling and remitting the proceeds to the company.
The defendant, of no fixed address, is facing a two-count charge of obtaining and stealing brought against him by the police before Magistrate Mrs. O. O. Oshin
Prosecuting Supol George Nwosu told the court that the defendant committed the offence between 2015 and 2018 in Lagos.
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He said Abdullahi, with intent to defraud, obtained quantities of Value paint valued at N26,573,943, from his employer, Gold Edge Industries Nigeria Limited, on the pretext of selling the product and remitting the proceeds to the company, but failed to do so.
Nwosu said: “The defendant, while he was an employee of Gold Edge Industries Nigeria Limited,, converted N26,573,943 to his personal use, being the sales of the company’s products.”
The defendant pleaded not guilty.
Magistrate Oshin granted him N1million bail with two sureties in the like sum.
She said one of the sureties must deposit N1million to the account of the chief registrar, while the other surety must have a landed property and the C of O, verified by the Ministry of Lands, Alausa.
The case was adjourned till February 17.
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