Rufai Temitope has been arraigned in Lagos. The 37-year-old assistant auditor is accused of stealing ₦3.56 million from Royal Prince Supermarket. He appeared before an Ogudu Magistrates’ Court on Monday. He pleaded not guilty.
Internal fraud is a recurring problem in Nigerian retail. Employees with access to accounts can fabricate invoices and divert funds. In 2023, a Lagos supermarket manager was charged with diverting ₦12 million. In 2024, a cashier was arrested for siphoning ₦5 million from a chain store. Controls are often weak. Auditors are supposed to catch fraud. When the auditor is the fraudster, controls collapse.
The prosecutor, ASP Donjour Perezi, told the court the offence occurred between 3 June and 31 July 2026. Temitope worked in the supermarket’s audit department at Ifako-Gbagada. He allegedly fabricated invoices for goods worth ₦3.56 million. He transferred the money to an account belonging to one Okoh Nkiruka without the company’s knowledge or consent. The manager, Boboye Moses, reported the incident at Ifako Police Station on 1 August.
The offence contravenes Section 287(7) of the Criminal Law of Lagos State, 2015. Magistrate A.O. Akinde granted bail in the sum of ₦1 million with two sureties. The case was adjourned to 2 December 2026 for further proceedings.
Winners: The police, which made an arrest. The supermarket, if it recovers the money. The court, which asserts process. Losers: Temitope, who faces trial. The supermarket, which lost money. The account holder, Nkiruka, who may face scrutiny. The audit profession, whose trust is undermined. No serious losers if the case is fair.
Bottom Line: An auditor allegedly stole from the company he was paid to protect. The case is in court. He denies the charge. The money is gone. The court will decide.