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A 25-year-old inventory officer, Yusuf Ibrahim, has been remanded by an Osun State Magistrates’ Court sitting in Osogbo for allegedly diverting N8.9 million sales proceeds of his employer into sports betting.
Ibrahim was arraigned alongside two friends, Azeez Olaide (23) and Ojo Tolulope, on an eight-count charge bordering on conspiracy, forgery, and stealing.
Police prosecutor, Babatunde Oluokun, told the court that the trio conspired on January 16, 2024, at Lead Warehouse, Ofatedo, Osogbo, to misappropriate the funds. He explained that Ibrahim, who worked as an inventory officer, allegedly forged invoice documents on his Samsung smartphone to deceive his employer, Musbau Olamilekan, the CEO of Lead Warehouse and Supermarket.
Oluokun said the defendants’ acts contravened Sections 516, 467, 419, 390(9), and 383(1) of the Criminal Code, Cap 34, Vol II, Laws of Osun State 2002.
In court, Ibrahim admitted that he spent the entire N8.9 million on betting, claiming he staked all the money in the hope of winning.
Counsel to the defendants, Barrister Z.T. Apo, pleaded for bail on liberal terms, but the presiding Magistrate, Dr. Olusegun Ayilara, rejected the oral application, ordering a formal bail request. The trio was remanded in prison custody pending further hearing.
The matter was adjourned till September 29, 2025, for mention.
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