Justice Ismail Ijelu of the Lagos State High Court sitting in Ikeja, on Wednesday, January 28, 2026, convicted a company, Rahvet International Limited, for N21m fraud.

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, arraigned Rahvet International Limited, on January 28, 2026, on an amended one-count charge bordering on stealing, contrary to Section 285(1) of the Criminal Law of Lagos State, 2011.

The charge reads: “That you, RAHVET INTERNATIONAL LIMITED, in June, 2021 at Lagos, within the Ikeja judicial division of this Honourable court, fraudulently converted for your own use the sum of Twenty One Million Naira (N21,000,000) property of Chioma Adeoye”.

The defendant pleaded guilty to the charge.

In view of this, prosecution counsel, Anita Imo, called Leonard Ayakor, an investigator with the EFCC, to review the facts of the case.

In his testimony, Ayakor told the court that the defendant approached the petitioner,  Chioma Adeoye, under the guise of conducting a research and persuaded her to pay money into the company’s account.

“During investigation, it was discovered that a total sum of ₦21 million was paid into the company’s account,” he also told the court.

Giving further testimony, the witness further stated  that the defendant had, however, fully refunded the complainant.

The prosecution, consequently, tendered the copy of the petition and the defendant’s statements.

They were admitted in evidence by the court.

Delivering judgment, Justice Ijelu found the company guilty as charged and convicted it accordingly.

The court also ordered the company to pay a fine of ₦100,000 within 72 hours.