The Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC) moved on Tuesday, 25 November 2025, to arraign Oti Jonathan Idowu and his company, Boundless Multi Service Solution Nigeria Limited, on an 11-count indictment alleging the theft of ₦23,000,000.
The charges, read to Justice O. A. Okunuga at the Lagos State High Court, Ikeja, accuse the defendant and his firm of multiple incidents of stealing between July 2020 and March 2021. The defendants pleaded not guilty when the counts were read.
The court remanded Mr Idowu to Ikoyi Correctional Centre. It directed that a bail application be heard on 3 December 2025. On this date, a trial commencement date will be fixed.
The EFCC’s statement lists individual counts. These include an allegation that on or about 30 March 2021, the first defendant and his company stole ₦5,000,000 belonging to Nneoma Okebugwu. On or about 24 July 2020, they allegedly stole ₦3,000,000 belonging to Umar Lukmon Agbomhere through Umaru Salmot.
The agency has applied for remand pending trial and the defence has filed a notice of a pending bail application. These procedural steps are typical in commercial theft prosecutions. The commission seeks to preserve trial integrity. They also aim to prevent flight risks.
Legally the charges invoke the stealing provisions of the Criminal Law of Lagos State. The law defines stealing as the dishonest taking or conversion of another’s property. It prescribes imprisonment where no other punishment is provided. The baseline terms are up to three years. Enhanced terms apply in aggravating circumstances, such as repeat conviction or theft by company officers.
Corporate liability and doubled fines for bodies corporate are explicit in the statute. This clarity is likely to shape both the prosecution strategy and any restitution or forfeiture orders should there be a conviction.
This arraignment must be read against the EFCC’s recent record. The commission reported a high level of convictions and asset recoveries in its 2024 accounting. This underscores an intensified prosecutorial drive against economic crime. This intensified drive has persisted into 2025.
That wider enforcement environment increases pressure on defendants in high value commercial disputes. They need to secure timely and well supported bail. Defendants must also mount robust evidential defences.
A comparative glance shows the EFCC routinely pursues cases in this value band. States and federal courts have witnessed numerous prosecutions. These involve alleged frauds and thefts ranging from ₦20m to ₦300m in recent months.
Courts frequently struggle to prove dishonest intent. They work on tracing funds. Additionally, they establish corporate complicity when a company is charged alongside its directors or officers.
The market presence of Boundless Multi Service Solution Nigeria Limited is visible online as a property and project management concern. This presence may influence questions of client relationships. It could also affect contract terms in the underlying disputes.
For readers and potential claimants the salient takeaways are simple. First, arraignment does not equate to guilt.
Second, the Criminal Law provides a clear framework for punishment and corporate liability. This framework can include imprisonment. It also involves doubled fines against companies.
Third, the EFCC’s recent conviction rates and high profile recoveries mean these matters will be prosecuted with considerable resource.
Finally, the case will turn on documentary proof, bank traces and the credibility of complainants and witnesses when trial starts.
Additional report by Peter Jene, Senior National Correspondent.
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