By Nkechi Eze
…defendant pleads not guilty as court grants N50 million bail, trial set for july 7
The Economic and Financial Crimes Commission (EFCC) has arraigned Samson Davies and his company, Signature Advisory Limited, before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on a one-count charge of alleged theft of N190,791,494 belonging to Ronchess Global Resources Plc.
According to a signed statement by the commission’s spokesperson, the EFCC’s Lagos Zonal Directorate 1, 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 (One Hundred and Ninety Million, Seven Hundred and Ninety-One Thousand, Four Hundred and Ninety-Four Naira), property of Ronchess Global Resources Plc.”
Davies pleaded “not guilty” to the charge when it was read in court.
Following the plea, prosecution counsel C.C. Okezie requested a trial date and prayed the court to remand the defendant in a Correctional Centre pending the trial. In response, defence counsel Ifeoma Esom informed the court that a bail application had already been filed and urged the court to consider granting bail on liberal terms.
In her ruling, Justice Dada granted bail to the defendant in the sum of N50 million, with two sureties in like sum. One of the sureties must own landed property in Lagos, and both must present valid tax clearance certificates. The court also ordered that the defendant surrender his international passport.
Until he meets the bail conditions, Davies is to be remanded at the Nigerian Correctional Facility.
The matter has been adjourned to July 7, 2025, for the commencement of trial.
The EFCC continues to reiterate its commitment to combating financial crimes and ensuring accountability in both the public and private sectors.
