By Comfort Olayinka
Two Abuja-based business agents, Nsor Nyami and Iranloye Olusegun, have been granted bail with stringent conditions after being accused of defrauding their employer of N10.6 million.
The Federal High Court in Abuja, presided over by Justice Musa Suleiman Liman, set tough bail terms on Monday, including requiring the agents to provide sureties who must deposit the original Certificate of Occupancy of their property in Abuja and submit a N20 million bail bond.
In addition to depositing their international passports and providing National Identification Certificates, the agents must also ensure their sureties produce tax certificates verified by the Federal Inland Revenue Service (FIRS).
The court’s ruling comes after the duo was accused of selling unregistered products and embezzling funds from their employer, Peace Foundation International.
Justice Suleiman, who said that he admitted them to bail on special circumstances of ill health groundS, had vacated his earlier order of January 2025, before admitting them to bail.
Nsor Nyami and Iranloye Olusegun, were arraigned before the court for allegedly defrauding their employer of N10.6 million entrusted into their care.
They were also accused of selling unregistered products to unsuspecting customers across the country before the National Agency for food Drug and Adminiu(NAFDA), sealed up their factory in Abuja.
The Inspector General of Police, who acted on the petition against them and after a thorough investigation slammed on them, a 10-count charge bordering on felony, conspiracy and criminal breach of trust contrary to Section 3 of the Miscellaneous Offences Act, 2007.
Although the defendants denied the charges, the IGP however alleged that the two accused persons, sometime in 2022 in Abuja, conspired amongst themselves to commit felony by dishonestly disposing of the Soya Plus product entrusted to them in violation of directives and guidelines prescribing the mode in which such trust is to be discharged.
The offence is said to be contrary to Section 3 of the Miscellaneous Offences Act 2007 and punishable under Section 3 of the same Act.
The IGP also alleged that the two accused persons in the same year dishonestly converted the sum of N10.6M to their own use, being money given to them by various customers in the distribution of Peace Foundation International Soya Plus, and refused to remit the money to their employer.
The offence is said to be contrary to Section 308 and punishable under Section 309 of the Penal Code Act.
Also, the IGP alleged that the accused persons in 2022 in Abuja carried out the distribution of an unregistered product named Brika Soya Beans Milk without registration with the National Agency for Food and Drug Administration and Control, NAFDAC.
The offence is said to be contrary to Section 1 of the Food Product Registration Regulations of NAFDAC and punishable under Section 7 of the same Act.
In the charge marked FHC/ABJ/CR/321/24, the second accused person, Olusegun Iranloye, was alleged to have criminally converted, for the purpose of stealing, the aggregate sum of N2.5m paid to him by various customers, the money being the property of his employer, contrary to Section 286 of the Penal Code Act and punishable under Section 287 of the same Act.
However, shortly after Monday’s ruling, the lead counsel to the accused persons, Ekanem Kanu Agabi, SAN informed Justice Suleiman that the two defendants would prefer to settle the dispute with the nominal complainant, while thanking the judge for admitting them to bail on health grounds.
Despite denying the charges, the two business agents are also facing accusations of distributing unapproved products, including Brika Soya Beans Milk, and dishonestly converting funds meant for their employer. The trial is set to begin on June 17, with the agents remanded in Kuje prison pending the fulfillment of their bail conditions.
