Businessman Olajide Soyombo of Mistimonta Ventures Arrested, Arraigned in Lagos

LEKKI, Nigeria - Feb. 25, 2026 - PRLog -- Olajide Soyombo, identified as the operator of Mistimonta Ventures, has been arrested and arraigned before a Magistrate Court in Lagos State following charges filed by the Commissioner of Police.

Court documents show that the defendant was brought before the Magistrate Court sitting in the Epe Magisterial District under Charge Number EP/156/2025. The charges were formally read in court, and Soyombo pleaded not guilty.

Following his arraignment, the court granted bail in the sum of ₦2,000,000 with two responsible sureties in like sum. The bail conditions require the sureties to be residents of Lagos State, be gainfully employed, provide LASRRA registration, submit bank statements and proof of assets equivalent to the bail amount, and present evidence of three years' tax payments with confirmation from the Lagos State Internal Revenue Service.

In addition, one surety is required to deposit a refundable sum of ₦500,000 into the Chief Registrar's bond account.

Until the bail conditions are fully met, the defendant remains in custody.

The matter has been adjourned for further proceedings, and the court has directed that the defendant be produced for the next hearing date.

KO News reports that the case remains before the court, and all allegations are subject to judicial determination.

Further updates will be provided as proceedings continue.
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