A magistrate court in Gusau, Zamfara state, has issued a warrant for the arrest of Samson Davies, a businessman and founder of Signature Advisory Limited, over allegations of misappropriation, criminal breach of trust, and defamation.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Davies and his firm, Signature Advisory Limited, before the special offences court sitting in Ikeja, Lagos, on a one-count charge bordering on stealing the sum of N190,791,494 from a company identified as Ronchess Global Resources Plc.
They were arraigned on June 10 before the court presided over by Mojisola Dada.
Davies pleaded not guilty to the charge and was granted a N50 million bail bond with two sureties in like sum, one of which must own landed property in Lagos.
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The defendant was also ordered to deposit his international passport with the court, while the sureties must provide evidence of tax clearance.
Court documents show that Davies was first arrested in December 2023, after which he entered a plea deal, admitting to owing N60 million and agreeing to a repayment plan.
After reportedly making an initial payment of N5 million, he allegedly reneged on the agreement and instead launched a blackmail and extortion campaign against Ronchess.
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In July, Ronchess Global Resources Plc issued a statement to say that Davies was dismissed on November 23, 2023, after an internal investigation uncovered “serious financial misconduct”.
He was alleged to have misappropriated company funds running into millions of naira, failed to account for several operational sums entrusted to him, and absconded without resolution.
The company further alleged that Davies illegally duplicated and retained confidential company documents and assets. These actions, it said, were not only unethical but also criminal.
Davies was also accused of attempting to blackmail and extort the company using confidential materials.
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The firm claimed he had been “actively promoting defamatory posts across several media platforms to mislead the public, damage the company’s reputation, and cause economic sabotage”.
According to a document obtained by TheCable, a magistrate’s court in Gusau has issued a warrant for Davies’ arrest. The warrant, dated July 29, 2025, is separate from the EFCC’s ongoing case against him. It was issued on allegations of misappropriation, criminal breach of trust, and defamation.
Meanwhile, Davies has filed a direct criminal complaint against the CEO of Ronchess before the magistrate’s court in Wuse 2, Abuja.
The magistrate court has issued a summons dated August 12, 2025, against Jackson and two of his management staff.
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