The police in Lagos have arrested and arraigned a cashier Zubair Abdulrasag and three other employees of Kayjay Zenith Limited, for allegedly siphoning N300 million from the company account in piece meal theft.
Zubair Abdulrasag, according to the police conspired with fellow cashier Ojo Oluwaseyi, storekeeper Usman Otaru Jamiu, and one Paul Opeyemi to systematically divert sales of Golden Penny flour, spaghetti, and other food items between 2021-2025. They were arrested by detectives from the Force Criminal Investigation Department (FCID), Alagbon Close, Ikoyi, after an audit of company account open the lid to the massive fraud.
Shocked and enraged, the company petitioned the FCID. In swift response, a crack team led by DSP Ndamodu Abdulmalik tracked down the suspects and took them into custody. They were subsequently dragged before the Igbosere Magistrate’s Court sitting at Tinubu Magistrate’s Court on a two-count charge of conspiracy and stealing.
Police Prosecutor, Reuben Solomon—representing FCID Legal Officer Morufu Animashaun—informed the court that the suspects’ betrayal of their employer’s trust amounted to a grievous criminal breach, punishable under Sections 411 and 287(7) of the Lagos State Criminal Law, 2015.
Presiding Magistrate, Mrs. N.O. Wahab, granted each defendant bail in the sum of N5 million with two sureties each in like sum. However, until the conditions are met, they will remain remanded at the Ikoyi Correctional Centre.
The case was adjourned till April 24, 2025, for mention.
