Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Thursday, July 9, 2026, convicted and sentenced Olusegun Lawal, who traded under the name and style of Faveo Auto Solutions, to three years’ imprisonment for stealing the sum of N30 million belonging to HSLM Trust & Associates Limited.
Lawal was first arraigned by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, on Tuesday, July 7, 2026, on a five-count charge bordering on stealing, obtaining by false pretence, and issuance of dishonoured cheques.
He pleaded not guilty to all the charges when they were read to him, prompting the court to adjourn the matter until November 3, 2026, for the commencement of trial.
However, when the case came up on Thursday, July 9, 2026, the prosecution counsel, U. S. Kyari, informed the court that the prosecution had filed a one-count amended information bordering on stealing, contrary to Sections 278 and 285(1) of the Criminal Law of Lagos State, 2011.
The count reads:
“That you, Lawal Olusegun (trading under the name and style of Faveo Auto Solutions), on or about March 3, 2020, in Lagos, within the jurisdiction of this Honourable Court, stole by fraudulently converting to your own use the sum of Thirty Million Naira (N30,000,000.00), property of HSLM Trust & Associates Limited.”
Upon the reading of the amended charge, Lawal changed his plea from not guilty to guilty.
Following his guilty plea, the prosecution counsel called Tanko Obed to review the facts of the case and tendered relevant documents, which were admitted in evidence.
Justice Dada found Lawal guilty as charged and convicted him accordingly.
The court sentenced him to three years’ imprisonment with an option of a fine of N1.5 million, payable within 30 days.
The court also ordered the convict to restitute the full sum of N30 million to the complainant, HSLM Trust & Associates Limited.