NAN-H-38
Stealing
By Oluwatope Lawanson
Lagos, May 19, 2017 (NAN) A 50-year-old businessman, Mathew Idowu, who allegedly absconded with N36.2 million belonging to First Bank of Nigeria PLC, on Friday appeared before an Ikeja Chief Magistrates’ Court.
Idowu, who resides at No.6 Awoseyin Lane, Shomolu, Lagos, is facing a two-count charge of stealing and presentation of dud cheque.
The prosecutor, Mr Peter Nwangwu told the court that the accused committed the offences between July 24, Sept. 19 and Nov. 20, 2015 at First Bank of Nigeria Plc, Akoka, Lagos.
He alleged that the accused obtained the money from the bank to execute a contract for Etisalat Nigeria.
Nwangwu said the accused refused to pay-back the loan when it was due, rather decided to change from First bank to another bank.
“After much pressure, the accused issued a cheque of N20 million to First bank as part payment which was dishonoured as a result of insufficient funds.
“Efforts by the complainant to get the accused to pay the money were unsuccessful.
“He abandoned his residence and office, absconded to an unknown destination, but was later arrested by the police,” he said.
The offences contravened Sections 285 and 319 of the Criminal Law of Lagos State, 2011.
The News Agency of Nigeria (NAN) reports that Section 285 stipulates three years for stealing.
The accused, however, pleaded not guilty to the charge.
In her ruling, the Chief Magistrate, Mrs Y.O. Aje-Afunwa, granted the accused bail in the sum of N2 million with two sureties in like sum.
She said the sureties should either be a community leader or own a property within the jurisdiction of the court.
Aje-Afunwa said the sureties should show evidence of three years’ tax payment to the Lagos State Government.
The case was adjourned till July 16, for mention. (NAN)
LAW/EOB/MZA
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Edited by Edith Bolokor and Maharazu Ahmed