A 43-year-old woman, Fausat Adekanbi, who allegedly stood as guarantor for a friend to obtain a N500,000 loan, was on Monday arraigned before the Ota Magistrates’ Court in Ogun.

Ms Adekanbi is standing trial on a three-count charge of conspiracy, collecting money under false pretence and stealing.

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

The prosecutor, E.O. Adaraloye, told the court that the defendant and others now at large committed the offences on January 15, at about 2:00 p.m. at plot 5 Femi Omolade Crescent, Onifade, Ota.

Mr Adaraloye alleged that the defendant stood as a guarantor to help her friend, Omolade Olufemi, obtain N500,000 from the complainant, with a promise to repay the loan with interest.

He alleged that the guarantor’s friend converted the said funds to her personal use rather than paying it back with the agreed interest.

He said that the guarantor was consequently arrested by the police.

The offences contravene the provisions of sections 390(9), 419 and 516 of the Criminal Law of Ogun, 2006.

The magistrate, O.O. Fadairo, granted the defendant bail of N100,000 with one surety in like sum.

The court held that the surety must reside within the court’s jurisdiction and must be gainfully employed with evidence of tax payment to the Ogun government.

The case was adjourned until March 11 for trial.

(NAN)