27-year-old employee arraigned of illegally converting N13m

A 27-year-old employee, Sadiq Musa, appeared before the Magbon Alade Magistrates’ Court in Ibeju-Lekki, Lagos State on Tuesday.

He is facing charges of alleged illegal conversion of N13 million meant for Point of Sale (POS) operations.

Musa, whose address was not provided, pleaded not guilty to the two-count charge of stealing and illegal conversion.

According to the prosecutor, ASP Ekundayo Friday, the defendant committed the offenses between April and July at Kara Market in Ibeju-Lekki, Lagos State.

Musa allegedly converted N13 million, which was deposited with him by his employer, Mrs. Adedapo Damilola, for POS business, for his personal use.

Meanwhile, also converted other sums of money received from customers for business transactions.

The prosecutor stated that these actions contravene Sections 287(7) of the Criminal Law of Lagos State, 2015.

In response, the Magistrate, Mrs. Olumide Fusika, granted the defendant bail in the sum of two million Naira.

The bail conditions required two sureties in like sum, with one of them depositing N500,000 to the court as a bond.

The case has been adjourned until October 26 for mention.