Judiciary
A 32-year-old woman, Ndefreke Udeme, on Monday, appeared before a Kado Grade 1 Area Court in Abuja charged with breach of trust and cheating two financial institutions of N3.6 million.
Udeme, who resides at Royal Estate, Lugbe, Abuja, is being prosecuted by the police for allegedly defaulting to repay a balance of N3.6 million borrowed from two microfinance banks in Abuja.
The Prosecutor, Ferdinand Orji said that a criminal complaint was made by one Mr David Olutope of Federal Ministry of Environment, Mabushi in Abuja to the police on July 7.
According to Orji, the complainant informed the police that he stood as a guarantor for the defendant to access loans from two unnamed micro finance banks on Dec.9, 2021, but the defendant had defaulted in repayment.
Orji said that Olutope reported that the defendant was to repay the total sum of N4.1 million being the principal sum and interest on the loan.
He said that the defendant, however, only paid N544,974 and had refused to pay the balance of N3.6 million since then, thus leading to the banks demanding the money from the complainant.
The prosecutor said that the offences allegedly committed contravened the provisions of sections 312 and 322 of the Penal Code.
The defendant, however, pleaded not guilty to the two.
The judge, Mohammed Wakili admitted the defendant to a bail of N2 million and a reliable surety in like sum.
Wakili thereafter adjourned the matter until Oct. 4, for hearing(NAN)
KN
Tags: David Olutope Ferdinand Orji Mohammed Wakili Ndefreke Udeme
