A 40-year-old businesswoman, Precious Okoi, was on Monday arraigned in the Ogudu Magistrates’ Court in Lagos for allegedly defrauding a company of N5.1 million.

Ms Okoi, residing in Ogudu GRA, is standing trial on a two-count charge of stealing and obtaining under false pretences.

She, however, pleaded not guilty to the charges preferred against her.

The prosecutor, Donjour Perezi, told the court that the defendant committed the offences on April 16 at Minco Group of Companies Ltd., located at Magodo, Lagos.

Mr Perezi alleged that the defendant defrauded the company of N5,152,000 with the pretence of supplying them 57 keys and locks, 10.2 house door materials, 31 door installations and accessories, with other building materials.

According to him, the defendant is a businesswoman and was given a contract to supply and install wooden doors and accessories to the said company, for which she was given N12,880,000.

”But she didn’t meet up with the agreement she signed with the company to supply on April 16, 2024. So far, she has been able to pay back N7,728,000 and has not paid the balance.

”She has been able to supply only 57 doors without the accessories, and has abandoned the contract and converted the said amount balance to her personal use,” the prosecutor said.

The prosecutor said that the offences contravene sections 287 and 314 of the Criminal Law of Lagos State, 2015.

The magistrate, S.K Matepo, granted the defendant N2 million bail with two reliable sureties in like sum.

She adjourned the case until May 7 for a hearing.

(NAN)