Employees Arrested in Nigeria for ₦300 Million Theft Linked to Sports Betting

Two Nigerian employees have been arrested for allegedly stealing ₦300 million from their employer, reportedly spending the majority of the stolen funds on sports betting. The incident highlights growing concerns about gambling-related financial crimes among Nigerian youth.

Arrest Made in Ogun State Following Investigation

The suspects, identified as Tomisin (35) and Yaya (23), were employees at a lifestyle and hospitality firm. According to police, the two men diverted company funds directly into their personal bank accounts. They were apprehended in Ogun State after a swift investigation by local authorities.

Investigators have revealed that nearly the entire sum stolen was used for betting on sports events. Authorities’ attempts to recover the stolen money have so far been unsuccessful.

“These suspects embezzled funds from their workplace, channeling the stolen amount almost entirely into sports betting,” stated a police spokesperson.

Police Urge Youth to Avoid Gambling Pitfalls

In light of this incident, the police have issued a strong advisory to young Nigerians about the risks associated with excessive gambling.

“We hope this case serves as a stark warning to youths and all those deeply engaged in sports betting about the severe consequences of gambling addiction,” the officer emphasized.

The news first broke on social media platform X, quickly attracting significant attention. A video documenting the arrests rapidly gained popularity, drawing thousands of reactions and views online.