Man arraigned for allegedly defrauding firm of N27.5m

Tokunbo Daramola, a 47-year-old man, was arrested and arraigned by Nigeria Police on Thursday, over alleged N27.5m fraud before the Ebute-Metta Chief Magistrate’s Court, in Lagos.

Daramola was charged on a count of accrued by false pretence, tender against him by the police.

Ben Ekundayo, the prosecutor, an Assistant Superintendent of Police told the court that the defendant committed the offence sometime in July 2023.

Ekundayo stated that 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.

Nevertheless, the defendant asserted 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, pleaded with 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.

Additionally, the defendant was placed on custody at the correctional center until he could perfect his bail, under Magistrate Adetunji’s order.

subsequently, the case was adjourned till May 8, 2024.