A 33-year-old man, Alao Ayomide, on Friday appeared before an Ejigbo Magistrates’ Court, Lagos, over an alleged N40 million fraud.

Mr Ayomide, whose address was not provided, is facing a four-count charge bordering on conspiracy, fraud and stealing.

He, however, pleaded not guilty to the charge.

The prosecutor, ASP Simon Njue, told the court that the defendant committed the offences with some other still at large in 2024, at Igando area of Lagos.

Mr Njue alleged that the defendant collected the N40 million from the complainant, Adesola Arowolo, to help him process two study visas to the United Kingdom and Canada, but failed to do so.

He said the defendant converted the money to his personal use.

“All efforts made by the complainant to a refund or the visas proved abortive,” the prosecutor said.

He said the offences contravened Sections 287, 314(2), 380, and 411 of the Criminal Law of Lagos, 2015.

The reports that Section 287 prescribes three years jail term for stealing, while Section 411 provides two years for conspiracy.

The magistrate, F.R Ogunkoyode, granted the defendant bail in the sum of N10 million with two sureties in like sum and adjourned the case until October 26 for mention.

(NAN