Shamsudeen Ishiaka, a 24-year-old Point of Sale (POS) machine operator from Lagos, has been charged with defrauding five of his coworkers out of ₦17 million.
Ishiaka appeared before the Ogudu Magistrates’ Court on Friday, where it was alleged that he committed the offenses in November 2024 at Mile 12 Market in Ketu, Lagos.
The specific address of Ishiaka’s residence was not disclosed. He faces two charges, fraud and theft, to which he has pleaded not guilty.
Prosecutor Insp Bassey Sunday informed the court that Ishiaka received the ₦17 million from his colleagues on different occasions through bank transfers, promising to repay them in cash.
According to the prosecutor, the complainants transferred funds to Ishiaka in exchange for cash, which he subsequently failed to provide.
The amounts involved included ₦7 million from Oluwakemi Dada, ₦4 million from Nuhu Hassan, ₦2.7 million from Ahmed Didat, ₦1.8 million from David Chibuzor, and ₦1.5 million from Dare Oyegoke.
Sunday further alleged that Ishiaka fled with the money until he was located and apprehended by the police.
He stated that these actions violated Section 287 of the Criminal Law of Lagos State, 2015.
Magistrate O.A. Daodu granted bail to the defendant in the amount of ₦1 million, requiring two sureties of equal value, and scheduled the next court appearance for April 15 for further proceedings.
