Businessman faces N800,000 fraud charge

A 43-year-old businessman, Kolawale Ajibade, who allegedly obtained the sum of N800,000 under false pretence, was on Thursday brought before an Ejigbo Magistrates’ Court, Lagos.

The defendant, whose residential address was not provided, is standing trial on a two-count charge of fraud and stealing.

He pleaded not guilty to the charge preferred against him by the police.

The prosecutor, Insp Benedict Aigbokhan, told the court that the defendant committed the offences sometime in 2020 at Ikotun, Lagos.

He said that the defendant fraudulently obtained the sum of N800,000 from the complainant, one Mr Azeez Olatunji, on the pretence of supplying wooden planks to him but failed to do so.

According to him, the defendant converted the money to his own use.

He said that the offences contravened sections 287 and 315 of the Criminal Law of Lagos State, 2015.

Reports state that Section 287 provides three years imprisonment for stealing, while Section 315 provides 15 years imprisonment for obtaining under false pretences.

The Magistrate, Miss K.A. Ariyo, however, granted the defendant bail in the sum of N300, 000 with two sureties in like sum.

She ordered that the sureties must be gainfully employed and show evidence of tax payment to the Lagos State government.

Ariyo adjourned the case until May 30 for mention.