EFCC Arraigns Lagos Businessman Over Alleged N208m Theft of Groceries and Household Goods

Story written by okafor joseph August 2,2025
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, has arraigned a businessman, Iwunze Ikechukwu Favour, over an alleged theft of groceries and household items worth N208,384,000 in Lagos State.

Favour was brought before Justice Mojisola Dada of the Lagos State High Court in Ikeja on Thursday, July 31, 2025, on a one-count charge of stealing. The EFCC alleged that the defendant dishonestly converted goods belonging to Ogechi Okorie and G-Chinodan Ltd for personal use between January and December 2024.

The charge reads in part:
“That you, Iwunze Ikechukwu Favour, sometime between January and December 2024, in Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, stole and converted to your personal use the sum of N208,384,000.00 (Two Hundred and Eight Million, Three Hundred and Eighty-Four Thousand Naira), being the value of several groceries and household items, property of Ogechi Okorie and G-Chinodan Ltd, and thereby committed an offence of stealing, contrary to and punishable under Sections 280 and 287 of the Criminal Law of Lagos State, 2015.”

The defendant pleaded not guilty to the charge.

Prosecution counsel, A.A. Usman, requested a trial date and sought the defendant’s remand in a correctional facility. However, defence counsel, N.M. Abraham, moved a bail application, which was granted by the court.

Justice Dada granted bail in the sum of N10 million with two sureties in like sum. One surety is required to place a lien on their bank account, and the defendant must deposit his international passport with the court registrar.

The case has been adjourned to October 30, 2025, for trial. Until his bail conditions are met, the defendant will remain in a correctional facility.