Trader, 50, arraigned over alleged N5 million fraud
A 50-year-old trader, Mathew Adetunji, on Tuesday arraigned in an Iyaganku Chief Magistrates’ Court, Ibadan, Oyo State, for allegedly defrauding a colleague of N5 million.
Adetunji, whose address was not provided, is facing a two-count charge of fraud and stealing, to which he pleaded not guilty.
The Prosecutor, Cpl Akeem Akinloye, told the court that the defendant committed the offences in March 2018, at Oke Padi, Ibadan.
Mr Akinloye said that the defendant collected the N5 million from the complainant, Sunday Ojukwu to help him procure industrial wires and cables, which he failed to buy.
He said that the defendant converted the N5 million to his personal use.
Mr Akinloye said that the complainant reported the case to the police, and the defendant was recently arrested.
He said the offences contravened Section 419(A) and 390 (9) of the Criminal Law of Oyo State, 2004.
The Chief Magistrate, Olabisi Ogunkanmi, granted the defendant bail in the sum of N1 million with two sureties in like sum.
Ogunkanmi said one of the sureties must be related to the defendant.
She adjourned the case until August 19, for mention.
(NAN)
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