LAGOS, Nigeria — The Economic and Financial Crimes Commission (EFCC) has arraigned Samson Davies and his company, Signature Advisory Limited, before the Special Offences Court in Ikeja, Lagos, on a one-count charge of stealing over ₦190 million.
According to EFCC spokesperson Dele Oyewale, the charge alleges that Davies and his firm dishonestly converted ₦190,791,494, belonging to Ronchess Global Resources Plc, for personal use between October 2022 and October 2023.
The charge was read before Justice Mojisola Dada on Tuesday, and Davies pleaded not guilty.
Prosecution counsel C.C. Okezie requested a trial date to present the case against the defendants and asked that Davies be remanded in custody. Defense counsel Ifeoma Esom informed the court of a pending bail application and asked for bail to be granted on liberal terms.
Justice Dada granted bail in the sum of ₦50 million, with two sureties in like sum. Conditions included:
One surety must own landed property in Lagos
Davies must submit his international passport
Sureties must present valid tax clearance documents
Davies will remain in custody at the Nigerian Correctional Facility until his bail conditions are met. The case has been adjourned until July 7, 2025, for trial commencement.
