A 22-year-old loan officer, Olamide Busari, was on Wednesday arraigned before the Ota Magistrates’ Court in Ogun for stealing N3.8 million from his employer.

The police charged Mr Busari, whose address was provided, with theft and fraud.

The defendant, however, pleaded not guilty to the charge.

The prosecutor, E.O. Adaraloye, told the court that the defendant committed the offence on October 21, 2024, at about 4:00 p.m., beside Ota.

Mr Adaraloye alleged that the defendant fraudulently obtained N3.8 million from customers on behalf of Leanha Technology Limited and refused to remit the money to the company.

The defendant, he said, converted the money to personal use.

The prosecutor said that the offence contravened Sections 390(6) and 419 of the Criminal Code, Laws of Ogun, 2006.

The magistrate, O.O. Fadairo, admitted the defendant to bail of N200,000 with one surety in like sum.

Ms Fadairo said that the surety should reside within the court’s jurisdiction and be gainfully employed with evidence of tax payment to the Ogun government.

The magistrate adjourned the matter until February 18 for further hearing.

(NAN)