For allegedly obtaining N1,024,400 under false pretences, a businessman, Fayemi Adekunle, on Wednesday appeared before an Ogudu Magistrates’ Court in Lagos State.
Thirty-two-year-old Adekunle, whose address is unknown, is facing two counts of fraud and stealing before Magistrate O.A. Daodu.
He, however, pleaded not guilty.
The prosecutor, Insp. Donjour Perezi, told the court that the defendant stole the sum from Beyond Credit Micro Finance Bank.
Perezi alleged that the fraud and theft occurred from November 23 to December 3 at No. 518 Ikorodu Road. Ile-Ile, Ketu
He said that the defendant fraudulently obtained the sum as a loan from the bank under the pretext of using it to facilitate a business.
“Adekunle collected the loan and agreed to pay back with interest but failed to do so.
“All efforts made by the bank for the defendant to repay the loan proved abortive as he absconded to an unknown destination and his phone unreachable.
“Adekunle was later apprehended and handed over to the police in Ketu for questioning,” Perezi said.
According to the prosecutor, the alleged offences contravene Sections 287 and 314 of the Criminal Law of Lagos State, 2015.
The Magistrate granted the businessman N250, 000 bail with two sureties in like sum.
She adjourned the case until January 19 for mention.