The Economic and Financial Crimes Commission (EFCC) has arraigned two individuals and a company before the Lagos State High Court sitting in Ikeja over the alleged theft of N560 million.

The defendants, Olivia Dike and Azeez Muniru Siyanbola, were arraigned alongside Eniafelamo Global Seven Nigeria Limited before Justice R.O. Oshodi of the Lagos State High Court on Monday.

According to the EFCC, the defendants are facing a three-count charge bordering on alleged stealing and conversion of funds belonging to Peachland West Africa Limited and an individual identified as Iyke Stephen Okpaji.

The anti-graft agency alleged that the defendants, together with one Taoheed Lekan Abdrahman, who is currently at large, dishonestly stole and converted to their personal use a cumulative sum of N560 million between July 2024 and February 2025.

One of the charges stated that the alleged offence was committed within Lagos State and contravened Sections 278(1)(b) and 285(9) of the Criminal Law of Lagos State, 2011.

When the charges were read to them, Dike and Siyanbola pleaded not guilty.

Following their plea, prosecution counsel, Nnaemeka Omewa, requested the court to fix a date for trial and sought an order remanding the defendants in a correctional facility pending the determination of their bail applications.

Justice Oshodi subsequently adjourned the matter until July 10, 2026, for the hearing of the bail applications and commencement of trial.

The court also ordered that the first defendant, Olivia Dike, be remanded in a female custodial centre, while the second defendant, Azeez Muniru Siyanbola, be remanded in a maximum-security correctional facility pending further proceedings.