N1bn Fraud: Court Adjourns to January 13 for trial of Oladipo, Two Others

 

Akin Kuponiyi

A Lagos High Court sitting in Ikeja has adjourned to January 13, 2026, for the commencement of the trial of the former manager of RSMN Impex Company, Fatai Adebayo Oladipo, and two others, who are alleged to have defrauded the company of N1 billion.

In a three-count charge filed before the court by a Police Legal Officer from the Police Special Fraud Unit, Barrister Azubuike Sylvester, it was alleged that Fatai Adebayo Oladipo, Adewale Adebayo, Olagunju Sodiq, and others now at large, conspired among themselves between 2019 and 2024, while employed by RSMN Impex Limited, to commit felony to wit: stealing 8,000 cartons of Lude polish valued at N1 billion, the property of RSMN Impex Limited.

It was further alleged that the three defendants laundered the N1 billion proceeds from the sale of the stolen Lude polish for their own use and benefit, which they allegedly used to build Olafat Hotel, located at No. 20 Ogunlade Street, off Gaa Akani, Ilorin, Kwara State.

The filing of the charge and the eventual arraignment of the defendants followed a petition written by the Director of RSMN Impex Company, Mr. Manohar Tejwani, to the Commissioner of Police, Special Fraud Unit, reporting the defendants’ alleged fraudulent activities.

Mr. Tejwani, Director of RSMN Impex Limited, located at No. 31 Egbado Street, Off Dahino, Alakuko, Ogun State, and whose company deals in the supply of Lude shoe polish and health football products in Nigeria, stated that on October 28, 2024, Mr. Fatai Oladipo, the company’s manager, chatted him up to ask for the price of goods since they had a delivery to supply to a customer.

Thereafter, he attempted to call his phone numbers—08034078590 and 07084875424—but discovered that both lines were switched off.

On October 30, after still being unable to reach him, he sent someone to Oladipo’s house and discovered that the house was under lock and key.

On October 31, 2024, he went to the company’s warehouse at 22/24 Iretin Street, Ikotun, and discovered that almost 8,000 cartons of Lude polish, valued at N500,000,000, were missing. He strongly suspected Mr. Oladipo and other warehouse staff of conspiring to fraudulently divert the goods and convert the proceeds for their personal use.