NAN-H-21
Businessman
By Chinyere Omeire
Lagos, Sept. 19, 2016 (NAN) A 46-year-old businessman, Olatunji David, who allegedly defrauded his colleague of N5.5 million on the pretext of supplying him cashew nuts, was on Monday granted a N2 million bail in Lagos.
An Igbosere Magistrates’ Court which gave the ruling, also asked David to provide two sureties as part of the bail condition.
The Magistrate, Mr W. B. Balogun, said the sureties must be gainfully employed in a limited liability company, who must show evidence of tax payment to the Lagos State Government.
David, whose address was not given, is facing a three-count charge of conspiracy, fraud and stealing.
Earlier, the prosecutor, ASP Eshiet Eshiet told the court that the accused with another man still at large committed the offences sometime in March in Lekki area of Lagos State.
Eshiet said the accused obtained the N5.5 million from the complainant, Bello Osagie-Teslim, to supply him raw cashew nuts which he failed to do.
“The accused dishonestly converted the money to personal use and stared giving the complainant excuses when he could not deliver.’’
The offences contravened Sections 285(1), 312 (1), (a), and 409 of the Criminal Law of Lagos State, 2011.
The accused, however, pleaded not guilty.
The magistrate adjourned the case to Oct. 21 for mention. (NAN)
OCC/EOB/DA
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(Edited by Edith Bolokor & controlled by Dele Akinsola)