A 32-year-old businessman, Emmanuel Evovo, has been arraigned before the Iyaganku Magistrates’ Court in Ibadan for allegedly stealing over N7 million from his business partner.

According to the police prosecutor, Inspector Adeshina Folaranmi, the incident occurred between December 2023 and 2024 in the Bodija area of Ibadan. Evovo is accused of unlawfully withdrawing a total of N7,138,000 belonging to his associate, Mr. Francis Chibuikem.

The alleged offence, Folaranmi said, is a violation of Section 390(9) of the Oyo State Criminal Code Law, 2000, which deals with theft.

Evovo pleaded not guilty to the charge.

Presiding Magistrate, Mrs. Oluwabusayo Osho, granted the defendant bail in the sum of N3 million, with two sureties required to match the amount.

The case has been adjourned to September 15 for further hearing.

The court proceedings highlight the importance of trust and accountability in business partnerships — and the legal consequences when that trust is allegedly broken.