A 70-year-old man, Emmanuel Bello, on Monday was arraigned for allegedly defrauding a businesswoman of N870,000 at an Ikeja Magistrate Court.

The police in Lagos charged Mr Bello with three counts of conspiracy, obtaining money under false pretence and stealing.

Prosecution counsel, Mojirade Edeme, told the court that the defendant, and others at large, committed the offence on March 2 at the council area of Idimu, Lagos State.

Ms Edeme said the defendant fraudulently obtained the money from Bilikisu Olabisi, with a promise to supply “spiritual oil” for the washing and cleaning of dollar notes.

“After the defendant collected the money, he absconded and all efforts to retrieve her money failed. The complainant reported the case and the defendant was eventually arrested,” the prosecutor said.

The prosecutor said the offence contravened the provisions of sections 287, 314 and 411 of the Criminal Law of Lagos State, 2015.

Section 287 prescribes three years jail term for stealing while section 314 attracts 15 years for obtaining money under false pretence.

Magistrate O.O Raji admitted the defendant to bail in the sum of N100,000 with one surety in like sum.

Mr Raji said that the surety should be gainfully employed and show evidence of two years of tax payment to the Lagos State Government (LASG).

The magistrate fixed a further hearing for October 20.