Three persons on Monday, were arraigned before a Sabo-Yaba Chief Magistrates’ Court in Lagos, over allegation of fraudulently taking a loan of N2.5 million and for issuing dud cheque.
The defendants, Oliver Qussa; 29, Azignon Appoeinane; 33 and Kiki Dorcas; 40, are standing trial over a six-count charge.
The trio pleaded not guilty to the charges of conspiracy, obtaining by false pretence, issuance of dud cheque, breach of public peace and stealing.
The Prosecutor, Insp Magaji Haruna, told the court that the defendants committed the offences between the months of September to December, at Infinity Microfinance Bank, Sabo Market, Yaba, Lagos.
Haruna alleged that the first defendant, Qussa, took a loan of N2.5 million from Infinity Microfinance Bank and got the second and third defendants to stand as his guarantors.
He submitted that when Qussa defaulted and breached the mutual agreement, the guarantors were also arrested.
He explained that as a means to settle the payment, the second defendant issued a Wema Bank dud cheque of N2.5 million that was dishonoured due to insufficient credit balance.
The offences, Haruna said, contravene Sections 168, 280, 314 (3), 321(b), 325 and 411 of the Criminal Law of Lagos State, 2015.
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Magistrate, O. Y. Adefope, granted the defendants bail in the sum of N500, 000 each, with two responsible sureties each in like sum.
Adefope said the sureties must be gainfully employed and show evidence of tax payment to the Lagos state government.
The matter was adjourned until January 24, 2024 for mention.
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