Lagos Court Convicts AAC Consulting Firm for Stealing Over ₦30.5 Million from Chevron Contract Staff

In a landmark ruling that underscores the fight against financial crimes in Nigeria, the Lagos State High Court has convicted AAC Consulting Limited for stealing more than ₦30.5 million belonging to contract workers of Chevron Nigeria Limited. The conviction, delivered on Friday, January 23, 2026, by Justice Rahman Oshodi at the Special Offences Court in Ikeja, marks a significant victory for the Economic and Financial Crimes Commission (EFCC) in holding corporate entities accountable.

The case dates back to April 27, 2013, when AAC Consulting Limited, under the leadership of its Managing Director, Anthony Adeoye, allegedly dishonestly converted ₦30,564,635.81 – funds meant for Chevron’s contract staff – to its own use. This act violated Section 285(1) of the Criminal Code, Cap 34, Vol. 44, Laws of Lagos State, 2011. The EFCC’s Lagos Zonal Directorate 1 arraigned the company and Adeoye initially on June 5, 2023, facing a staggering 50-count charge that included stealing and issuing dud cheques.

During the trial, prosecuting counsel I.O. Daramola presented compelling evidence, calling two witnesses and tendering multiple documents that were admitted by the court. The defendants initially pleaded not guilty, leading to a full-blown trial. However, in a dramatic turn, after repaying the full stolen amount to the victims in December 2023, AAC Consulting and Adeoye changed their plea to guilty. This prompted the EFCC to amend the charges to a single count of stealing, to which the company pleaded guilty.

The amended charge read: “AAC Consulting Limited, on or about April 27, 2013, at Lagos, within the Ikeja Judicial Division, dishonestly converted to its own use the aggregate sum of ₦30,564,635.81, property of contract staff of Chevron Nigeria Limited.” Justice Oshodi, after reviewing the plea and evidence, found the firm guilty and imposed a ₦5 million fine, payable within 14 days. Failure to comply, the judge warned, would result in the winding up of the company – a stern measure aimed at deterring similar corporate malfeasance.

This conviction comes amid growing concerns over financial impropriety in Nigeria’s corporate sector, particularly involving multinational oil firms like Chevron. Industry watchers have hailed the EFCC’s persistence, noting that the repayment of funds prior to the final plea likely influenced the reduced charges but did not spare the firm from accountability. “This sends a clear message that no entity is above the law,” an EFCC source reportedly stated, emphasizing the agency’s commitment to recovering stolen assets and prosecuting offenders.

NaijaChoice News understands that cases like this highlight the vulnerabilities faced by contract workers in the oil and gas industry, where third-party firms often handle payroll and benefits. Chevron Nigeria Limited, a major player in the nation’s energy sector, has not issued an official statement on the matter, but sources indicate the company cooperated fully with the investigation.

As Nigeria continues to battle economic crimes, this ruling could set a precedent for swift justice in similar cases. The EFCC has urged citizens to report suspicious activities, reinforcing that financial theft erodes trust in the system and hampers national development.