Justice K.A. Jose of the Lagos State High Court sitting in Tapa, Lagos, on Thursday, September 3, 2026, convicted and sentenced five persons to seven years imprisonment for their involvement in a N117.7 million fraud involving Chi Limited.
The convicts: Yinka Salawu, Joshua Oluremi Daramola, Raji Ahmed, Afolabi Israel Olusegun, and Muraina Olanrewaju Abdullahi, were prosecuted by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on a six-count charge bordering on conspiracy to obtain money by false pretence, obtaining money by false pretence, and forgery.
One of the counts reads:“that you, Yinka Salawu (aka Mr. Yinka James Christopher), Tinuke Olayinka Salawu (aka Mrs. Yinka James Christopher), Ogbeide Kingsley Stevenson, Joshua Oluremi Daramola, Raji Ahmed, Sule Tijani Adebayo (at large), Afolabi Israel Olusegun, Muraina Olanrewaju Abdullahi, Fred Esumike (at large), and Ismaila Kareem (trading under the name and style of Ismak Ola Nig. Ltd.) (at large), sometime in 2009 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, obtained the sum of N81,359,922.00 (Eighty-One Million, Three Hundred and Fifty-Nine Thousand, Nine Hundred and Twenty-Two Naira) from Chi Limited under the false pretence that the money was payment for goods and services you supplied and rendered to Chi Limited, which representation you knew to be false, thereby committing an offence contrary to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.”
In the course of the trial, the prosecution called 17 witnesses drawn from the EFCC, the Nigeria Police Force, banks, and Chi Limited. It also tendered several documentary exhibits to establish its case against the defendants.
At the conclusion of the trial, Justice Jose found the 1st, 4th, 5th, 6th, and 7th defendants guilty on Counts One, Two, and Three and convicted them accordingly. However, the 2nd, 3rd, and 8th defendants were discharged and acquitted.
Following the convictions, the prosecution counsel, M.S. Owede urged the court to invoke Section 11 of the Advance Fee Fraud and Other Fraud Related Offences Act and order the convicts to restitute Chi Limited, the petitioner the sums stated in counts Two and Three, totalling N117.755 million.
Owede also asked the court to order the sale of properties belonging to the 1st convict, with the proceeds paid to Chi Limited. Alternatively, he urged the court to order that the properties be forfeited outrightly to the petitioner.
In her ruling, Justice Jose sentenced each of the five convicts to seven years’ imprisonment without an option of a fine.
“The convicts will be given credit for the periods they have already spent in custody. All periods spent in prison shall be deducted from the seven-year terms imposed by the court,” the judge ruled.
On the issue of restitution, Justice Jose, relying on Section 297 of the Administration of Criminal Justice Law, ordered the convicts to restitute Chi Limited with the sums contained in the charge.
“All monies already paid shall be deducted from the amounts to be restituted,” Justice Jose added.
The convicts’ journey to the Correctional Centre began when they were arrested for obtaining the sum of N81.359 million from Chi Limited under the false pretence that the money was payment for goods and services they supplied and rendered to Chi Limited. They neither delivered the goods and services nor returned the money to the company.
