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Rashidat Folawiyo, 41, has been arrested for defrauding a Lagos-based food company of N2.4m. Folawiyo was the company’s major distributor in Ondo State, until August 2016, when she failed to remit the proceeds of products worth over N2.4m.
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The company had handed over a van and food products worth about N6m to Folawiyo in August 2016. But by the time she was supposed to make remittance of an outstanding proceed of sale amounting to N2,407,270, she became unreachable.
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The MD of the company, Segun Olaye, revealed that Folawiyo was initially an employee of the company until she was rewarded with a distributorship role along with a few others across the country.
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She was given an operational vehicle and was getting N6m worth of products on credit every month. Detectives from the SCID, who went after Folawiyo, were able to recover the operational van she was given.
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Police later tracked her down to a hair extension store she had set up in Ijapo area of Akure, Ondo State and transported her back to Lagos. She pleaded to be employed back in the company so that she could be paying back at N20,000 every month.
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She has now been charged before a Chief Magistrate’s Court, Yaba on 3 counts of theft, conspiracy to commit felony and fraud. Folawiyo has been remanded in the custody of the Kirikiri Prison, Lagos, custody pending the time she would be able to meet her bail conditions. Crdt: Punchng
