How Lagos Man, Bello Samuel, Allegedly Diverted ₦90 Million and Fled to Ekiti
A Lagos-based employee, Bello Saheed Samuel, has been brought before the Federal High Court in Lagos over allegations of large-scale financial fraud involving ₦90 million allegedly stolen from his employer, an investment company operating in the state. The case, which has drawn public attention due to the scale of the alleged diversion and the suspect’s reported attempt to evade arrest, is being handled by the Police Special Fraud Unit (PSFU).
According to information made available by law enforcement authorities, Samuel was employed in the finance department of the company, a position that granted him access to sensitive financial systems and internal transaction processes. Investigators allege that he exploited this access to fraudulently divert company funds through a series of insider transactions, bypassing established controls meant to safeguard corporate assets.
Police sources disclosed that the alleged fraud came to light following internal reviews by the company, after which Samuel reportedly absconded from Lagos. It was further alleged that he left the state with members of his family shortly after the suspected activities were uncovered. In what investigators described as an attempt to avoid detection and arrest, the suspect allegedly severed communication lines and went underground.
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In a statement issued on Tuesday, the spokesperson for the Police Special Fraud Unit, DSP Ovie Kenneth Ewhubare, said a coordinated manhunt was launched across several South-Western states to locate the suspect. The operation, he explained, involved intelligence gathering and inter-agency cooperation, which eventually led to Samuel’s arrest in Oye-Ekiti Local Government Area of Ekiti State.
DSP Ewhubare also revealed that preliminary investigations indicated that the suspect allegedly attempted to launder the stolen funds by routing the money through bank accounts belonging to friends and relatives. This, according to the police, was aimed at concealing the source of the funds and frustrating recovery efforts. Authorities noted that this aspect of the case has expanded the scope of investigations, as efforts are ongoing to identify and apprehend other individuals who may have knowingly or unknowingly facilitated the alleged laundering process.
Samuel has since been arraigned on charges bordering on conspiracy, fraud, and money laundering. The court proceedings are at an early stage, with the matter adjourned to a later date to allow for further investigation and proper legal processes. The suspect remains in custody pending the continuation of the trial and possible bail considerations in line with the law.
Reacting to the development, the Commissioner of Police in charge of the Police Special Fraud Unit, CP Kayode Ojapinwa, reiterated the unit’s commitment to combating financial crimes, particularly those involving insider abuse within corporate organisations. He stressed that financial crimes undermine investor confidence and weaken the integrity of Nigeria’s business environment.
CP Ojapinwa also used the opportunity to advise corporate organisations to strengthen their internal control mechanisms, regularly audit financial processes, and closely monitor staff with access to sensitive financial systems. According to him, proactive oversight and robust compliance frameworks are critical in preventing insider-related financial abuse.
The case has continued to generate public reactions, with many Nigerians expressing concern over issues of corporate governance, employee ethics, and the recurring challenge of financial crimes. As the trial proceeds, authorities say they remain focused on ensuring accountability, asset recovery where possible, and the prosecution of all parties found culpable in accordance with the law.