The Chief Executive Officer of an
oil and gas company, Olukunle Owolabi, was on Tuesday arraigned before a Lagos
Magistrate’s Court, sitting at Igbosere, for allegedly using the N10m
mistakenly deposited into his bank account.
Owolabi, who resides in Ogudu
GRA, Lagos, is facing a 1-count charge of fraud preferred against him by the
Police.
The defendant, 53, alongside his
company, was charged before Magistrate F. O. Botoku.
The prosecutor, Chinedu Njoku,
told the court that the defendant committed the offence on April 5.
The offence, he said is
punishable under section 285 (5a) of the Criminal Law of Lagos State, 2015.
Njoku said the incident occurred
at 2, Tinubu Street, Lagos Island.
According to him, at about 11a.m
the defendant fraudulently converted N10 million belonging to a bank, which was
deposited into his account by Telecorev Nigeria Limited on March 31.
The prosecutor told the court
that the defendant’s account was last used by him in 2016.
He said he suddenly got an alert
from the bank, he transferred the entire money into his account in another bank
and used it in paying off his debts.
The defendant, during his
arraignment, told the court that on March 31, he received an alert of N10
million.
He said he thought the money was
from one of his customers or debtors.
The defendant, however, pleaded
not guilty to the charge.
Magistrate Botoku granted him
bail in the sum of N1 million with two sureties in like sum.
She said the sureties must be
gainfully employed and show evidence of payment of tax to Lagos State
government with verification of addresses.
Botoku, however, adjourned the
case to December 19 for a mention.
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