Two businessmen, Hyginus Eze and Matthew Enetomhe, were on Friday arraigned before an Ikeja Magistrates’ Court for allegedly obtaining N220 million from a financial institution under false pretence.
Eze, 53, of the Okota area, and Enetomhe, 65, of Banko Estate, Irawo, are facing a three-count charge of obtaining by false pretence and stealing.
The duo appeared before Magistrate Lateef Owolabi and entered a plea of not guilty.
According to the prosecutor, Supol Josephine Ikhayere, the alleged offences took place in August 2024 at Oba Akran Avenue, Ikeja, where the defendants secured a total of N220 million in loans from Citygate Global Investment Ltd under the guise of repayment promises.
Eze allegedly collected N150 million, while Enetomhe obtained N70 million. However, both men reportedly failed to repay the loans and issued cheques from Zenith Bank, FCMB, and Providus Bank that were later discovered to be cloned and dishonoured upon presentation.
The prosecution stated that their actions amounted to conduct likely to disturb public order and contravened Sections 168, 338, and 365 of the Lagos State Criminal Law, 2015.
Magistrate Owolabi granted each defendant bail in the sum of N3 million, with two sureties in like amount. The sureties are required to be gainfully employed and must provide evidence of tax payments to the Lagos State Government.
The case has been adjourned to 26 June 2025 for hearing.
