Competent police sources at the State Criminal Investigation Department (SCID) Panti, Yaba, told the News Agency of Nigeria (NAN) that the deceased, Nojeem Ijaola was allegedly murdered over N5,000.
The source said the deceased and the suspect were co-tenants at 25 Deji Adabanyan Street, Aga Ikorodu area of Lagos and the suspect allegedly stabbed the victim in the chest during a fight in the night.
According to the source, following the incident, the victim slumped and was immediately taken to a nearby hospital by sympathizers where he was confirmed dead.
Police spokesman, Mr Frank Mba said some policemen have since visited the scene of the crime and the corpse taken to the mortuary for autopsy while investigations continue.
Mba said the suspect would be charged to court as soon as investigation is completed.