Five members of the Obiakor family have been re-arraigned before the Lagos State Special Offences Court in Ikeja for allegedly stealing N242.391 million from Just Kings and Real Kings Nigeria Limited.
The Economic and Financial Crimes Commission (EFCC) brought the defendants Chisom Obiakor, Daniel Obiakor, Anthony Obiakor, Precious Nwokemodo, and Ifeanyi Nwokemodo, before Justice Mojisola Dada on a seven-count charge bordering on conspiracy and stealing.
According to the EFCC, the offence was committed between January 1, 2021, and September 1, 2022.
Counsel for the EFCC, Anita Imo, alleged that Chisom Obiakor, an employee of the affected companies, diverted goods worth N242.4 million and disbursed the proceeds to her family members.
Chisom’s father, Daniel Obiakor, allegedly received N10 million from the stolen funds, while her brother, Anthony, got N10 million.
Her sister, Precious Nwokemodo, reportedly received N24.5 million, and her brother-in-law, Ifeanyi Nwokemodo, received N400,000.
Imo told the court that the offence contravenes Section 328(1) and is punishable under the same section of the Criminal Law of Lagos State, 2015.
But the defendants pleaded not guilty to the charges.
Justice Dada allowed four of them to remain on previously granted bail but denied bail to the fifth defendant, whose identity was not specified in court.
The case, which began before Justice Rahman Oshodi, started afresh following its reassignment to Justice Dada.
The trial was adjourned to November 3, 4, 5, and 6, 2025.