A Grade A Customary Court sitting in Mapo, Ibadan, has ordered the remand of a 35-year-old man, Oluwasegun Taiwo, for allegedly forging documents and stealing N1,386,200 from a microfinance institution, Absolute Grace Limited.
Presiding Judge, Mrs O.E. Owoseni, issued the remand order on Thursday after the defendant failed to satisfy the bail conditions set by the court.
Taiwo had earlier been granted bail in the sum of N500,000, with two reliable sureties of similar value. The sureties must be relatives, possess landed property, and present valid identification, including their National Identity Numbers (NIN).
The court adjourned the case to 18 September 2025 for hearing.
Prosecution counsel, Inspector Ayodele Ayeni, told the court that Taiwo committed the offences on 15 January, 16 March, 20 March, 6 May, and 6 June 2025, within the premises of the microfinance firm in Bodija, Ibadan.
Ayeni said the defendant fraudulently obtained the funds by forging the signatures and photographs of four individuals: Olajire Taiwo, Jamiu Tijani, Wasiu Wahab, and Afeez Oladepo.
He added that Taiwo used computer software to clone and manipulate victims’ identities as part of his scheme.
The offences, the prosecutor stated, contravene Sections 516, 390(9), and 467 of the Criminal Code, Cap. 38, Vol. II, Laws of Oyo State, 2000.