Ondo man arraigned over alleged N8.1m stolen dollars, gold chains

By Boye Oyeyemi

A 46-year-old man, Ganiba Shuaib, has been arraigned before an Akure Magistrate’s Court for allegedly receiving $1,200 and two gold chains valued at a total of N8.1 million.

Shuaib was charged with receiving stolen property over the alleged transaction involving items said to belong to one Alhaji Shehu.

The police prosecutor, A. Jejeniwa, told the court that the defendant allegedly received the items on July 26, 2026, at Sabo Market in Ondo, within the Ondo Magisterial District.

According to the prosecution, the $1,200 was valued at N1.74 million, while the two gold chains were worth N6.36 million.

Jejeniwa alleged that the items were sold to Shuaib by one Obinna Lucky, who is currently serving a jail term at the Olokuta Correctional Centre.

The prosecutor said the alleged offence contravened Section 427, Cap. 37, Volume 1, of the Laws of Ondo State, 2006. Shuaib, however, pleaded not guilty to the charge.

Jejeniwa told the court that the prosecution had three witnesses lined up to establish the allegations and requested a date for hearing. However, defence counsel, G.N. Obabo, urged the court to grant his client bail on liberal terms, assuring it that suitable sureties would be provided.

In his ruling, Magistrate O.T. Lebi granted Shuaib bail in the sum of N1 million with two sureties and adjourned the case until November 17, 2026, for further hearing.