An Ojo Magistrates’Court in Lagos on Monday admitted to bail in the sum of N500,000 a 28-year-old businessman, Chima Ikeoha, who allegedly obtained N1.5 million from a bureau de change operator.
The Magistrate, Mr A.A. Paul, in his ruling, ordered the defendant to also provide two sureties, as part of the bail conditions.
Ikeoha, a resident of the Ojo area of Lagos, is facing a two-count charge of stealing and obtaining by false pretence.
The prosecutor, Insp. Uche Simon, told the court that the defendant committed the offences on Sept. 23, at Aspamda Market, Trade Fair Complex, Lagos.
Simon alleged that the defendant fraudulently obtained N1.5 million from Umar Sanda, under the pretext of paying him back in Pounds Sterling.
He added that the defendant promised to give him £3,100 on the same day, but Ikeoha failed to keep to his promise.
The prosecutor said that when the complainant went to Ikeoha’s shop to ask for his money, he discovered that the defendant had locked up his shop and bolted with the money.
Simon said that all efforts to reach the defendant on phone proved abortive.
According to him, the complainant reported the case to the police, and the defendant was traced to his house and apprehended.
The prosecutor said the offences contravened the provisions of Sections 285, 312 and 409 of the Criminal Law of Lagos State, 2011.
Section 285 prescribes three years imprisonment for stealing, while Section 409 stipulates two years imprisonment for conspiracy, if convicted.
The defendant, however, pleaded not guilty to the charge.
Paul, however, adjourned the case till Dec. 12, for mention.