Judiciary

A 47-year-old man, Olufemi Babajide, on Friday appeared before a Yaba Chief Magistrates’ Court, Lagos State, for alleged six million Naira  fraud. 

Babajide, who  resides at Yaba, is facing a three-count charge of conspiracy, obtaining by false pretences and stealing.

He, however, pleaded not guilty to the charge.

The prosecutor, ASP Rita Momah, told the court that the defendant committed the offences in April 2019 in Lagos State.

Momah said that the defendant  collected the sum  from the complainant, Mr Maxwell Ekong, with a promise to invest it in foreign exchange trading and be remitting a monthly interest to him.

She said  that the defendant failed to invest the money, but  diverted it to his personal use.

Momah said that efforts made by the complainant to get back his money proved abortive.

She said that the  offences contravened Sections 411, 314 and 287 of the Criminal Law of Lagos State, 2015.

The News Agency of Nigeria (NAN) reports that Section 314 stipulates15 years’ imprisonment for obtaining by false pretences, while Section 287 provides for three years’ jail term for stealing.

The Chief Magistrate, Mrs A.O. Salawu, granted the defendant bail in the sum of N500,000 with two sureties in like sum.

Salawu ordered that  the sureties must be gainfully employed and reside within the court’s jurisdiction.

She added that each surety must submit  his  National Identification Number, six months’ bank statement of account and  Lagos State Residents Registration Agency  card.

Salawa added that the sureties must show evidence of three years tax payment to Lagos State Government.

She adjourned the case until Aug. 22 for mention. (NAN)

C.E

Tags: A.O. Salawu Maxwell Ekong Olufemi Babajide Rita Momah