Magistrate Court Issues Arrest Warrant for Businessman Samson Davies

Strategic Insights -

A magistrate court in Gusau, Zamfara State, has issued an arrest warrant for businessman Samson Davies, founder of Signature Advisory Limited, due to allegations of criminal breach of trust, misappropriation, and defamation of character. This development comes on the heels of an ongoing criminal prosecution by the Economic and Financial Crimes Commission (EFCC) against Davies and his company in Lagos. Davies is being tried for an alleged theft of N190,791,494 belonging to Ronchess Global Resources Plc, a case that began on June 10 and is being presided over by Justice Mojisola Dada. The trial has seen Davies plead not guilty to the one-count charge of stealing and was granted bail in the sum of N50 million, with two sureties in like sum.

Key Takeaways:

  • The magistrate court in Gusau, Zamfara State, has issued a warrant for the arrest of Samson Davies over allegations of criminal breach of trust, misappropriation, and defamation of character.
  • This is distinct from an ongoing criminal prosecution by the EFCC against Davies and his company in Lagos, where Davies is being tried for an alleged theft of N190,791,494.
  • The trial, presided over by Justice Mojisola Dada, began on June 10 and has seen Davies plead not guilty to the one-count charge of stealing.
  • Davies was initially arrested in December 2023 and entered into a plea deal acknowledging a N60 million debt to Ronchess and agreeing to a structured repayment plan.
  • However, Davies only paid N5 million before allegedly reneging on the agreement and launching a campaign of blackmail and extortion against his former employer.
  • Ronchess Global Resources Plc disclosed that Davies was dismissed from the company on November 23, 2023, following an internal probe that uncovered serious financial misconduct.
  • Ronchess further accused Davies of embezzling company funds, absconding with operational monies, and unlawfully retaining confidential documents.
  • Davies has filed a direct criminal complaint against Ronchess CEO, Jackson, and two other top executives, resulting in a summons from the magistrate court in Abuja.

Statistics:

  • The alleged theft of N190,791,494.
  • Davies was granted bail in the sum of N50 million, with two sureties in like sum.
  • Davies was initially arrested in December 2023.
  • Davies only paid N5 million of the agreed N60 million debt to Ronchess.
  • Ronchess disclosed that Davies was dismissed from the company on November 23, 2023.

Sources:

  • "Naija247news gathered that the arrest warrant, dated July 29, 2025, is distinct from an ongoing criminal prosecution by the Economic and Financial Crimes Commission (EFCC) against Davies and his company in Lagos."
  • "The trial, which began on June 10, is being presided over by Justice Mojisola Dada."
  • "According to Naija247news, Davies pleaded not guilty to the one-count charge of stealing and was granted bail in the sum of N50 million, with two sureties in like sum-one of whom must possess verifiable landed property in Lagos."
  • "Ronchess Global Resources Plc disclosed that Davies was dismissed from the company on November 23, 2023, following an internal probe which uncovered what it described as 'serious financial misconduct'."