The Economic and Financial Crimes Commission (EFCC) has brought a businessman, Samson Davies, and his company, Signature Advisory Limited, before the Special Offences Court in Ikeja, Lagos, for allegedly stealing nearly N191 million.
Davies appeared before Justice Mojisola Dada to answer to a one-count charge accusing him and his firm of dishonestly converting N190,791,494 funds said to belong to Ronchess Global Resources Plc for their personal use.
The alleged offence was committed 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, property of Ronchess Global Resources Plc.”
Davies pleaded not guilty.
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Prosecuting counsel, C.C. Okezie, requested a trial date and asked the court to remand the defendant in a correctional facility.
In response, defence counsel Ifeoma Esom informed the court that a bail application had already been submitted and urged the court to consider bail on lenient terms.
Justice Dada granted bail in the sum of N50 million, with two sureties in like sum. One surety must possess landed property in Lagos, and both must present evidence of tax clearance.
The defendant is also required to surrender his international passport.
Pending the fulfillment of bail conditions, the court ordered that Davies be remanded at the Nigerian Correctional Facility.
The matter was adjourned to July 7, 2025, for trial to commence
