A Lagos High Court has arraigned Iwunze Ikechukwu Favour over the alleged theft of groceries and household goods valued at a staggering ₦208,384,000. The Economic and Financial Crimes Commission (EFCC) brought the charge against him on Thursday, July 31, 2025, before Justice Mojisola Dada at the Ikeja High Court.
According to the EFCC, the offence took place over a one-year period—from January to December 2024—and involved goods belonging to Ogechi Okorie and a company, G-Chinodan Ltd. The items were reportedly stolen and converted for personal use. Favour pleaded not guilty to the charge.
The EFCC’s prosecution counsel, A.A. Usman, requested that the defendant be remanded in custody pending trial. Meanwhile, defence lawyer N.M. Abraham moved a bail application on behalf of his client.
Justice Dada granted bail in the sum of ₦10 million, with two sureties in like sum—one of whom must place a lien on their bank account. The defendant must also submit his international passport to the court.
The matter has been adjourned to October 30, 2025, for trial to begin. In the meantime, Favour is to remain in custody until he meets the bail conditions.
