The Financial and Monetary Crimes Fee (EFCC) has secured the conviction of AAC Consulting Restricted for stealing N30.56 million belonging to contract workers of Chevron Nigeria Restricted.
The conviction was delivered on Friday, January 23, 2026, by Justice Rahman Oshodi of the Particular Offences Court docket sitting in Ikeja, Lagos, in accordance with an announcement issued by the anti-graft company.
The case pertains to alleged offences relationship again to 2013 and centres on the illegal conversion of funds meant for contract workers of Chevron Nigeria Restricted.
What the EFCC stated
The EFCC stated AAC Consulting Restricted was arraigned on January 12, 2026, by its Lagos Zonal Directorate 1 on an amended one-count cost bordering on stealing, opposite to Part 285(1) of the Legal Code, Cap 34, Vol. 44, Legal guidelines of Lagos State, 2011.
In line with the Fee, the cost accused the corporate of dishonestly changing funds belonging to Chevron contract workers for its personal use.
The cost reads:
“That AAC Consulting Restricted, on or about twenty seventh April 2013, at Lagos, throughout the Ikeja Judicial Division, dishonestly transformed to its personal use the combination sum of N30,564,635.81 (Thirty Million, 5 Hundred and Sixty-4 Thousand, Six Hundred and Thirty-5 Naira, Eighty-One Kobo), property of contract workers of Chevron Nigeria Restricted.”
Backstory
The EFCC disclosed that the trial commenced on June 5, 2023, when AAC Consulting Restricted and its Managing Director, Anthony Adeoye, have been arraigned earlier than the courtroom on a 50-count cost bordering on stealing and issuance of dud cheques.
Each defendants initially pleaded not responsible, prompting the graduation of a full trial.
Throughout the proceedings, prosecuting counsel, I. O. Daramola, known as two witnesses and tendered a number of paperwork, which have been admitted in proof and marked as displays by the courtroom.
The Fee stated the defendants later repaid the complete sum concerned to the petitioner in December 2023, after which they modified their plea from not responsible to responsible.
Following the reimbursement, the EFCC amended the cost, and the corporate pleaded responsible to the one-count cost of stealing.
Court docket ruling
On the resumed proceedings on Friday, Justice Oshodi discovered AAC Consulting Restricted responsible and convicted the corporate accordingly.
The courtroom ordered the agency to pay a high-quality of N5 million inside 14 days, warning that failure to conform would outcome within the winding up of the corporate.
What you must know
BusinessTimes has reported a number of circumstances lately the place Nigerian courts convicted company entities prosecuted by the EFCC for monetary crimes.
- A Federal Excessive Court docket in Ikoyi convicted FARM360 Restricted and MCBHADMOS Trans-Atlantic Commerce Restricted for illegally gathering N80 million from traders via unlicensed collective funding schemes, imposing fines on the businesses after conviction.
- Quintessential Funding Firm Restricted was additionally convicted for comparable unlawful capital market operations, having collected over N1.2 billion from traders earlier than defaulting on returns
- A Lagos State Excessive Court docket convicted Partnership Securities Restricted, together with its chairman, Victor Ogiemwonyi, for stealing practically N953.6 million and $80,000 in proceeds from a share sale entrusted to the agency, fining each the corporate and Ogiemwonyi and ordering restitution to the investor.
In 2025, an Oyo State Excessive Court docket additionally convicted Detorrid Heritage Funding Restricted, alongside its principal, for greater than N1 billion in funding fraud, sentencing the defendant to a multi-year jail time period after prosecution by the EFCC’s Ibadan Zonal Directorate
Be First to Comment