A Lagos State High Court sitting in Ikeja has convicted Rahvet International Limited for defrauding a woman of ₦21 million, bringing closure to a case that began with a promise of “research” but ended in financial loss and distress.
Justice Ismail Ijelu delivered the judgment on Wednesday, January 28, 2026, after the company pleaded guilty to a one-count charge of stealing brought by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
The EFCC had arraigned Rahvet International Limited on an amended charge bordering on stealing, contrary to Section 285(1) of the Criminal Law of Lagos State, 2011. The charge stated that the company, in June 2021, fraudulently converted ₦21 million belonging to Chioma Adeoye within the Ikeja Judicial Division of the court.
According to court proceedings, the company lured Adeoye with claims of conducting a research project and persuaded her to pay funds into its bank account. An EFCC investigator, Leonard Ayakor, who testified as the prosecution’s sole witness, told the court that investigations revealed that a total of ₦21 million was paid into the company’s account under the pretext.
Ayakor added that the money was later found to have been fraudulently converted, although the company eventually refunded the full amount to the complainant during the course of the investigation.
The prosecution counsel, Anita Imo, tendered the petition and the defendant’s statements as evidence, which were admitted by the court.
In his judgment, Justice Ijelu found Rahvet International Limited guilty as charged and convicted the company accordingly. While noting the refund of the stolen funds, the court imposed a fine of ₦100,000 on the company, to be paid within 72 hours.
For the complainant, the ruling marked the end of a long wait for justice—one that began with misplaced trust and ended with accountability in court.
