RismadarVoice Reporters
February 19, 2016
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, on Wednesday, February 18, 2026, arraigned Tunji Adewumi Adepoju and his company, West Quantum Auto Products Ltd, before Justice O. A. Okunuga of the Lagos State High Court sitting in Ikeja over an alleged N53 million fraud.
Adepoju and the company were docked on a two-count charge bordering on conspiracy and stealing. The EFCC alleged that the defendant dishonestly converted to personal use the proceeds from the sale of eight vehicles belonging to Mr. Idowu Raji, valued at N53,000,000, contrary to Sections 41(1), 280(4), and 281 of the Criminal Law of Lagos State, 2011.
Count one states that Adepoju, while serving as Managing Director/Chief Executive Officer of West Quantum Auto Products Ltd, in February 2022 in Lagos, conspired with the company to steal the sum of N53,000,000, property of Mr. Idowu Raji.
Count two alleges that he dishonestly stole the proceeds from the sale of the eight cars valued at N53,000,000 by converting the funds to his personal use.
The defendants pleaded not guilty to the charges.
Following the plea, prosecuting counsel, Catherine Arinola Ati-John, urged the court to fix a date for trial and prayed that the defendant be remanded in a correctional facility.
Defence counsel, Ndubusi Oraemyem, informed the court that a bail application had been filed, sought a short adjournment to move the application.
Justice Okunuga adjourned the matter until March 2, 2026, for trial and ordered that the defendant be remanded at the Ikoyi Correctional Centre.
