A Grade I Area Court in Kado, Abuja, on Monday admitted a businessman, Zakarnaini Usman to a bail of N400, 000 over alleged cheating.
Usman who resides at Customs quarters, Abuja is facing two count charge of criminal breach of trust and cheating.
The Prosecution Counsel, Mr. Stanley Nwafoaku, told the court that the matter was reported at Mabushi Police Station by the complainant, Mrs. Ramatu Yusuf of Jahi 2, Abuja, on Dec.15, 2022.
He said the complainant alleged that sometime in October 2022, she entrusted the sum of N500,000 to the defendant to invest in his business with the promise of returning it.
The prosecutor said that when the complainant requested for her money, the defendant refused to return it as he had converted the money to his personal use.
He added that during police investigation the defendant confessed to have committed the crime.
Nwafoaku said the offence contravened the provisions of sections 312 and 322 of the penal code.
The defendant, however, pleaded not guilty to the charge.
The Judge, Muhammed Wakili granted the defendant bail in the sum of N400, 000 with one surety, who must provide a passport photograph.
He must also provide any valid means of identification and a BVN printout from his bank details.
Wakili adjourned the matter until Feb. 16, for hearing