The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) has arraigned Mr. Samson Davies, alongside his firm, Signature Advisory Limited, on a one-count charge of stealing the sum of N190,791,494 from Ronchess Global Resources Plc, a construction company.
The suspect was arraigned before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos.
The development was disclosed in a statement by the EFCC on Tuesday.
EFCC Case
According to the Commission, the defendants allegedly converted the said sum belonging to Ronchess Global Resources Plc, thereby committing theft in contravention of relevant laws.
The charge reads:
“That you, Samson Davies and Signature Advisory Limited, sometime between October 2022 and October 2023, in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use the aggregate sum of N190,791,494 (One Hundred and Ninety Million, Seven Hundred and Ninety-One Thousand, Four Hundred and Ninety-Four Naira), property of Ronchess Global Resources Plc.”
What Transpired in Court
- At the court session, the charge was read to the defendant by the registrar, and he pleaded “not guilty” to the one-count allegation.
- Following his plea, prosecution counsel C.C. Okezie asked the court to fix a trial date to enable the prosecution to prove its case against the defendants.
- The prosecution also prayed that the court remand the defendant at a Correctional Centre.
- However, defence counsel Ifeoma Esom drew the court’s attention to the defendant’s bail application, which had already been filed.
- The lawyer urged the court to grant the defendant bail on the most liberal terms.
- Ruling on the bail application, Justice Dada granted the defendant bail in the sum of N50 million, with two sureties in like sum.
“One of the sureties must own landed property in Lagos, and the defendant is to submit his international passport to the court. The sureties must also provide evidence of tax clearance,” the judge held, according to the EFCC statement.
- The judge further ordered that the defendant be remanded at the Nigerian Correctional Facility pending the perfection of his bail conditions.
- The case was subsequently adjourned to July 7, 2025, for the commencement of trial.
What to Know
- While this case highlights the EFCC’s role in the anti-corruption war, the allegations remain unproven in court until the judge makes a final pronouncement after reviewing evidence from both parties.
- The legal teams on both sides are expected to present evidence and relevant legal arguments to convince the court.
