Court Orders Police To Arrest Bizman Over Alleged Misappropriation

A Magistrate Court in Gusau, Zamfara State, has issued a warrant for the arrest of businessman, Samson Davies, founder of Signature Advisory Limited, over allegations of misappropriation, criminal breach of trust and defamation.

The arrest warrant seen by our reporter was issued against Mr Davies on July 29, 2025.

Our investigation showed that Mr Davies allegedly evaded arrest on two separate occasions earlier in August when the police went to his Abuja home in Wuse Zone 2 to effect his arrest.

In June, the EFCC filed criminal proceedings against him and his firm, Signature Advisory Limited, in Lagos over allegations of large-scale theft.

In a statement, EFCC spokesman, Dele Oyewale, said the Lagos zonal directorate 1 of the anti-graft agency arraigned Mr Davies and Signature Advisory Limited before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on a one-count charge of stealing ₦190,791,494 belonging to Ronchess Global Resources Plc.

The charge read: “That you, Samson Davies and Signature Advisory Limited, sometime between October 2022 and October 2023, in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use the aggregate sum of ₦190,791,494 , property of Ronchess Global Resources Plc.”

Davies pleaded not guilty when the charge was read to him. Following his plea, prosecution counsel C.C. Okezie requested a trial date and prayed the court to remand the defendant in a correctional facility. Defence counsel Ifeoma Esom, however, urged the court to grant bail on liberal terms.

Justice Dada subsequently admitted Mr Davies to bail in the sum of ₦50 million with two sureties in like sum, one of whom must own landed property in Lagos. The defendant was also ordered to deposit his international passport with the court, while the sureties must provide evidence of tax clearance.

Following his arraignment by the EFCC in June, he was remanded in Kirikiri Correctional Facility until July. He was later released on bail following the commencement of trial on July 7. He is to be re-arraigned by the EFCC in October, 2025.