The Nigeria Police on Thursday arraigned a 47-year-old man, Tokunbo Daramola, before the Ebute-Metta Chief Magistrate’s Court, in Lagos, over alleged N27.5m fraud.
Daramola was arraigned on a count of obtaining by false pretence, preferred against him by the police.
The prosecutor, Assistant Superintendent of Police Ben Ekundayo, told the court that the defendant committed the offence sometime in July 2023.
Ekundayo said the incident occurred at about 10 am, at Ladipo Kuku Street, off Allen Avenue, Lagos.
He also told the court that Daramola defrauded and caused a loss to a firm, Prohaul Energy & Logistics Limited, by issuing an old postdated Polaris Bank cheque, which the Central Bank of Nigeria has phased out as security, to obtain the sum of N27.5m.
According to the prosecutor, the offence committed is punishable under Section 322(1) of the Criminal Law of Lagos State, 2015.
However, the defendant pleaded not guilty to the offence against him.
Following his not-guilty plea, the prosecutor urged the court to remand him to the facility of the Nigerian Correctional Service, pending the determination of the charge.
But the defendant through his lawyer, urged the court to grant him bail in the most liberal terms, on the grounds that the charge against him was a bailable one.
While ruling on the submissions of both lawyers, Magistrate Atinuke Adetunji, admitted bail to the defendant in the sum of N3m, with two sureties in like sum.
The magistrate also ordered that each surety must be resident within the court’s jurisdiction, and show evidence of three years of tax payment to the Lagos State government.
She added that the sureties must be gainfully employed.
Magistrate Adetunji also ordered the remand of the defendant at the correctional centre pending when he could perfect his bail.
Consequently, the case was adjourned till May 8, 2024.
