Police Arraign Man For Alleged N13.5m Fraud

A 32-year-old staff member of Micronova Pharmaceutical industries, Yusuf Abdulazeez, was arraigned on Monday  for allegedly defrauding his employer of N13.5 million.

Abdulazeez is standing trial before an Ikeja Magistrates’ Court in Lagos  on a two-count charge of  stealing and obtaining  under false pretense to which he pleaded not guilty.

The prosecutor, SP Josephine Ikhayere told the court that the defendant committed the offences sometime in 2024  at Billings Way, Oregun, Ikeja.

She  alleged that the defendant  defrauded the company of  N13,598,010, being the proceeds he realised from the medical drug stocks supplied to him for distribution.

“The defendant is a sales representative for the company, solely responsible for the sales and distribution of pharmaceutical products and prescription drugs across the country.

“Sometime in January 2025, the products valued N13,598,010 were released to the defendant through one of the company’s manager, one Muritala Danladi, for distribution.

“Unfortunately, he could not provide a satisfactory account of the goods or the money. During an audit of his account, the company discovered that he had fraudulently converted the goods and funds for his personal use,” she told the court.

The prosecutor said this act led  to the defendant’s refusal to properly report to the head office to hand over the products to the manager.

She listed the medical drugs involved, to include, Misopt Eye Drop (600 packs), Eloboid Dx 10 (300 units), Flo Kid Eye Drops 5ml ( 150 packs), Lubrex Eye drops 10ml (100 packs), Dapsim 5mg (30 packs), Diapride plus 2 (100 packs), and Dibimet 500 SR (100 packs).

The others are, Korobo Eye Drops 5ml (200 units), Rapidon Eye drops 5ml (300 packs), Micromox Eye drops 5ml (150 units) , Misopt Eye drops 5ml (550 packs)  among others.

According to the prosecutor, the offences contravene Sections 287 and 314 of the Criminal Law of Lagos  State, 2015.

The Magistrate, Mr L. A Owolabi, granted the defendant bail in the sum of N400,000 with two reliable sureties in like sum.

He adjourned the case until March 6 for hearing.