A 25-year-old inventory officer, Yusuf Ibrahim, has been remanded in a correctional facility by an Osun State Magistrates’ Court in Osogbo for allegedly misappropriating N8.9 million belonging to his employer and using the funds for sports betting.
Ibrahim was arraigned alongside two associates, Azeez Olaide (23) and Ojo Tolulope, on an eight-count charge that includes conspiracy, forgery, and stealing.
According to police prosecutor Babatunde Oluokun, the incident occurred on January 16, 2024, at Lead Warehouse in Ofatedo, Osogbo. Ibrahim, who was employed as an inventory officer, allegedly forged invoice documents on his Samsung smartphone to conceal the diversion of funds from his employer, Musbau Olamilekan, CEO of Lead Warehouse and Supermarket.
The prosecution stated that the alleged offences violate Sections 516, 467, 419, 390(9), and 383(1) of the Criminal Code, Cap 34, Vol II, Laws of Osun State, 2002.
During the court proceedings, Ibrahim admitted to using the entire sum for betting, stating he had hoped to win and return the money.
Defense counsel, Barrister Z.T. Apo, requested bail on liberal terms. However, Magistrate Dr. Olusegun Ayilara denied the oral application and directed that a formal bail request be filed. All three defendants were ordered to be remanded in prison custody pending further proceedings.
The case was adjourned to September 29, 2025, for mention.
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