Sep 4, 2026

Five Convicts Get Seven-Year Jail Terms for ₦117m Chi Limited Fraud in Lagos

By Afolabi Olaiya Idowu in news

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Lagos, Nigeria – September 4, 2026 — A Lagos State High Court has sentenced five men to seven years imprisonment each for their roles in a ₦117.7 million fraud that targeted Chi Limited, the makers of popular juice and dairy products.

Justice K.A. Jose of the court sitting in Tapa, Lagos, delivered the judgment on Thursday, September 3, 2026, convicting Yinka Salawu (also known as Mr. Yinka James Christopher), Joshua Oluremi Daramola, Raji Ahmed, Afolabi Israel Olusegun, and Muraina Olanrewaju Abdullahi.

The Economic and Financial Crimes Commission (EFCC) Lagos Zonal Directorate 1 prosecuted the case on a six-count charge that included conspiracy to obtain money by false pretence, obtaining money by false pretence, and forgery.

How the Fraud Unfolded

The court found that the convicts, acting with others (some still at large), obtained ₦81,359,922 from Chi Limited sometime in 2009 under the false pretense that the money was payment for goods and services they had supposedly supplied.

They neither delivered the goods nor returned the funds. The total amount ordered for restitution stands at ₦117,755,061.

During the trial, the prosecution called 17 witnesses drawn from the EFCC, the Nigeria Police Force, banks, and Chi Limited itself, and tendered numerous documentary exhibits.

Justice Jose found five of the defendants guilty on key counts while discharging and acquitting three others.

Sentence and Restitution Orders

The judge imposed a seven-year term on each of the five convicts without an option of fine. She ruled that periods already spent in custody would be deducted from the sentences.

Relying on relevant provisions of the law, the court ordered the convicts to restitute Chi Limited the sums involved, with any amounts already paid to be deducted.

Prosecutors had also urged the court to order the sale or forfeiture of properties linked to the first convict for the benefit of the petitioner.

A Persistent Pursuit of Justice

The case dates back more than a decade and a half, underscoring the EFCC’s determination to pursue complex fraud matters to their logical conclusion. Several co-accused remain at large.

The conviction adds to the anti-graft agency’s growing list of successful prosecutions in Lagos, where economic and financial crimes remain a major focus.

Chi Limited, a major player in Nigeria’s consumer goods sector, had petitioned the EFCC after discovering the fraudulent transactions.

For ordinary Nigerians watching the fight against economic crime, the outcome sends a clear message: even long-running schemes can eventually catch up with their perpetrators.

The five men are expected to begin serving their terms after credit is applied for time already spent behind bars. The EFCC continues to track the remaining suspects still at large.