Missing $1m Controversy: Court sets judgement date for rights violation suit

The Lagos State High Court in Ikoyi has heard a fundamental rights suit filed by businesswoman Monehin Abiola against the Nigerian police and two others over her alleged unlawful arrest and detention following the reported disappearance of $1 million from a client’s safe deposit vault.

The judge, O.A. Ipaye, heard the case on 2 October and adjourned the matter to 19 November for judgement.

At the hearing, Ms Abiola, who until recently was the marketing manager at Bulwark Vault and Safes Deposit Limited in Lagos, filed her fundamental rights enforcement suit through her lawyer, Charles Adeogun-Phillips.

She said she was arrested and detained by officers of the Zone 2 Police Command, Onikan, Lagos, between 2 and 5 July, following a petition dated 21 May 2024, by a lawyer, Abimbola Adewole, acting on behalf of Omotayo and Bashir Fakorede.

Mr Adeogun-Phillips, a Senior Advocate of Nigeria (SAN), told the court that his client, who had worked with Bulwark Vaults since January 2011, maintained an unblemished service record.

He emphasised that she had no access to the contents of clients’ safe deposit boxes, which could not be opened without the renter being present and using two sets of keys simultaneously.

Mr Adeogun-Phillips told the court that the company’s policy prohibited storing cash in its vaults, in line with the Money Laundering (Prevention and Prohibition) Act, 2022, and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 2004.

He said despite this, Mrs Fakorede allegedly deposited two travel bags containing $1.5 million in a safe deposit box, later claiming that $1 million was missing.

He added that only the couple and their daughter had access to the box, and that Ms Abiola only became aware of the alleged cash after Mr Fakorede contacted her via WhatsApp—more than 24 hours after his wife had removed the bags.

Mr Adeogun-Phillips further argued that the police acted “at the behest of wealthy individuals” without reasonable suspicion or lawful justification.

He said Ms Abiola was detained for five days under “deplorable and unhygienic” conditions.

Citing the African Charter on Human and Peoples’ Rights and the Universal Declaration of Human Rights, the lawyer argued that the police action violated Sections 35(1)(c) and 41(1) of the Nigerian Constitution.

Mr Adeogun-Phillips described the police conduct as a “flagrant abuse of state power,” alleging that they acted on behalf of the Fakoredes, who had openly admitted to holding $1.5 million in cash outside the banking system, in violation of money laundering and foreign exchange laws.

He criticised the police for “turning a blind eye” to such a serious breach while deploying state resources to pursue his client. “Who walks around with $1.5 million in cash? Where in the world does that happen outside the banking system?” he asked.

He urged the court to award N70 million in damages—N20 million for unlawful detention and N50 million for violation of her rights—arguing that compensation is mandatory once a breach of fundamental rights has been established.

“The police must not be used as personal instruments of intimidation by the wealthy. The rights of every citizen—rich or poor—must be protected under the law,” he said.

He alleged that the Fakoredes were motivated by a desire to evade the law requiring the declaration of cash exceeding $10,000 to the Nigerian Customs Service, and that they used their influence to involve the police rather than pursue proper legal channels.

Quoting the late judge, Niki Tobi in Onagoruwa v. IGP (1993), he noted, “The naira is no longer a stable and enduring currency… it floats in the money market adversely,” adding that the current exchange rate further supported the claimed amount as both fair compensation and an effective deterrent.

Respondents deny allegations, defend police action

In their counter-affidavit and written address, the lawyer to the second and third respondents, A.B. Munirudeen, denied all allegations and urged the court to dismiss the application.

He argued that his firm, acting on instructions of the Fakoredes merely reported a suspected theft to the police—an act within their constitutional right and civic duty—and that the suit lacked merit.

“The Applicant has not presented any scintilla of evidence indicating a violation of her rights. The reliefs sought are aimed at restraining the police from performing their lawful duties,” Mr Munirudeen submitted.

Citing Supreme Court and Court of Appeal authorities, including Abdulhamid v. Akar (2006) and Fajemirokun v. Commercial Bank (Nig.) Ltd (2009), the respondents said citizens are duty-bound to report crimes and cannot be held liable for subsequent police actions.

They described the case as “a gagging suit” intended to obstruct lawful investigation into the missing funds and urged the court to dismiss it as “frivolous, vexatious, and oppressive.”

Police insist arrest was lawful

The lawyer to the police, M.A. Animashaun, also opposed the application, insisting that the applicant’s arrest and questioning were lawful and conducted in accordance with the Constitution.

“The Applicant was arrested on a valid complaint made by her employer regarding alleged diversion of company funds,” he told the court. “She was granted administrative bail pending further investigation and was never detained beyond a reasonable time.”

He argued that there was no credible evidence of torture or prolonged detention, noting that the applicant’s affidavit contained contradictions and lacked corroboration by medical reports or witnesses.

“The claim for N70 million in damages is speculative and unsupported by proof of actual loss. The law does not permit damages based on imagination,” Mr Animashaun said

Police outline investigation findings

Meanwhile, the Anti-Fraud Section, FCID Alagbon, detailed its investigative process in a counter-affidavit.

In the counter-affidavit, Bamishile Olufemi of the Anti-Fraud Section, FCID Alagbon, wrote that the investigation began after receiving a petition dated 21 May 2024, and a referral from Force Headquarters dated 24 May 2024.

Mr Olufemi, who is a chief superintendent of police, stated that Mr and Mrs Fakorede had deposited two boxes containing $1.5 million—$1 million in one and $500,000 in the other—under an agreement requiring the use of both the company’s and clients’ keys for access.

On 12 May 2024, Mrs Fakorede allegedly discovered the content of one box empty after she had removed it from the vault and opened it with a Bulwark staff member present.

The police said the vault company “cannot claim ignorance of the boxes’ contents,” as it was responsible for monitoring access.

The police obtained search and arrest warrants from the Chief Magistrate Court 1, Igbosere, before conducting searches at Ms Abiola’s office and residence.

They denied allegations of unlawful detention.

Ms Abiola said she was unlawfully detained between 2 and 5 July. But the police said they granted her bail the same day she reported at FCID, Alagbon, and that her fundamental rights “had not been violated by a lawful investigation.”

Mr Olufemi further disclosed that a duplicate case file had been sent to the Director of Public Prosecutions (DPP), whose legal advice dated 6 January established a prima facie case of conspiracy, stealing, and unlawful interference with property against Ms Abiola and others.

The police urged the court to dismiss the application as an abuse of process aimed at halting criminal prosecution.

CCTV saga

Court documents show that in May 2024, Mr Fakorede petitioned the Assistant Inspector-General of Police, FCID Alagbon, over the alleged theft of $1 million from the vault operated by Bulwark Vaults and Safes Deposit Limited in Ikoyi.

In the petition, signed by Mr Adewole, Mr Fakorede said his wife discovered that one of the two bags of hard currency he deposited had been emptied when she went to retrieve them on 12 May 2024.

He said the company failed to provide full CCTV footage of the vault, claiming recordings between July 2023 and January 2024 were unavailable.

He accused the firm of handling the incident “lackadaisically” and urged the police to investigate and prosecute those responsible.

Following an application by Mr Adeogun-Phillips, the judge ordered that the CCTV footage tendered by the applicant—said to show Mrs Fakorede retrieving two holdall bags allegedly containing $1.5 million from the vault on 12 May 2024—be played in open court.

The video recording was admitted by the court as an exhibit.

Bulwark Vault and Safes Deposit Limited, the company at the centre of the dispute, was launched in Lagos to provide secure storage for valuables such as documents, certificates, jewellery, and other precious possessions. (Premium Times)