The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), has arraigned one Samson Davies and his company, Signature Advisory Limited, before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on a one-count charge of stealing the sum of N190,791,494.
According to the EFCC, Davies and his firm allegedly dishonestly converted the said amount, which belongs to Ronchess Global Resources Plc, for their personal use between October 2022 and October 2023 in Lagos.
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.”
Davies pleaded not guilty to the charge when it was read to him.
Following his plea, the prosecution counsel, C.C. Okezie, requested a trial date and asked the court to remand the defendant in a correctional facility.
However, defence counsel, Ifeoma Esom, informed the court that a bail application had already been filed and urged the court to grant her client bail on liberal terms.
Justice Dada granted Davies bail in the sum of N50 million, with two sureties in like sum.
One of the sureties must own landed property within Lagos State, and both must provide evidence of tax clearance.
The court also directed the defendant to deposit his international passport with the court.
Pending the fulfilment of the bail conditions, Davies was ordered to be remanded at the Nigerian Correctional Facility.
The case was adjourned to July 7, 2025, for the commencement of trial.
