Police Nab Accountant Over Alleged ₦150m Lagos Burglary

Detectives from the Lagos State Police Command have arrested an accountant suspected of stealing ₦150 million from a commercial premises in the Maryland area of Lagos. The suspect, identified only as a 34-year-old man, was taken into custody following a tip-off from members of the public who noticed unusual activity at the premises over several nights. Officers executed a warrant at a property in the Ogba-Ikeja axis, where they recovered documents and electronic devices allegedly used in the burglary.

How Police Caught the Suspect

Authorities received a complaint from the business owner on March 14, reporting that a significant amount of cash had vanished from a secured safe. Investigators examined CCTV footage from the surrounding area and tracked a vehicle seen leaving the premises at midnight. The vehicle was traced to an address in the Ifako-Ijaiye Local Government Area, where officers intercepted the accountant on Tuesday morning.

Police spokesperson ASP Adebayo Odusalu confirmed the arrest in a statement issued in Lagos, saying the suspect had attempted to flee but was cornered by officers who had staked out the location overnight. Initial inquiries suggest the suspect had been employed by the business for three years and had access to the safe through his role. Investigators believe he used this access to plan the heist over several weeks.

What the ₦150m Figure Represents

The ₦150 million sum represents one of the largest single-theft incidents reported in the Maryland-Ikeja corridor this year. Business owners in the area told Vanguard News the case highlighted vulnerabilities in how small and medium enterprises store large amounts of cash on-site. Several traders said they had personally increased security measures since hearing about the alleged burglary.

For context, the average monthly salary for a mid-level accountant in Lagos ranges between ₦400,000 and ₦800,000, meaning the stolen amount equates to roughly 187 to 375 months of typical earnings. Investigators are working to trace whether any of the funds have been transferred to bank accounts or converted into assets.

Community Reaction and Business Concerns

Residents in the Maryland neighbourhood expressed alarm at the scale of the incident. A shop owner located two blocks from the targeted premises said many businesses in the area handle large cash volumes daily without dedicated security firms. "We rely on locks and our own alertness," she told reporters. "An incident like this makes everyone nervous."

The Lagos Chamber of Commerce said it was monitoring the case and urged businesses to review their internal financial controls. A spokesperson noted that employers should ensure more than one person oversees significant cash holdings and that regular audits could prevent similar incidents.

Police Procedure and Next Steps

The accountant has been detained at a police station in Ikeja, where he is expected to face charges of breaking and entering, theft, and criminal misappropriation. Detectives are still searching for any accomplices and have appealed to anyone with information to come forward. Officers have frozen several bank accounts linked to the suspect pending further investigation.

The case is expected to be forwarded to the Director of Public Prosecutions in the coming weeks. If charged, the suspect will appear before a magistrate court, where bail applications can be heard. Legal observers say the magnitude of the alleged theft could influence whether the court grants bail.

What Businesses and Residents Should Watch

Lagos police have encouraged commercial premises across the state to tighten security following the arrest. Officers suggested installing timed safes that automatically lock after business hours and reviewing who has access to keys and codes. For residents, the case serves as a reminder to report suspicious behaviour to the nearest police station rather than assuming someone else will act.

The trial, if it reaches court, will test how effectively Lagos prosecutors can build a case involving digital evidence and financial transactions spanning weeks of alleged planning.