A 40-year-old businessman, Dayo Adula, who allegedly defrauded one Ganiyu Olanrewaju of N1.3 million, on Thursday appeared before an Apapa Magistrates’ Court, Lagos.
Adula, who resides in Satellite Town area of Lagos, is facing a charge of fraud.
The Prosecutor, Insp. Tony Elibeh, told the court that the accused committed the offence on September 15, 2016, in Abule-Ado area of Satellite Town, Lagos. State
Elibeh said that the accused collected 600 bags of cement valued at N1.3 million from the complainant and promised to pay him after selling them; a representation he knew was false.
The prosecutor alleged that the accused sold off the cement and converted the money to his personal use.
Elibeh said that when the complainant did not get any feedback from the accused, he decided to confront him and demand for his money.
“ The accused, who had spent the money, started giving the complainant excuses.
“When the complainant got tired of the excuses, he reported the matter to the police and the accused was arrested,’’ he said.
Elibeh said the offence contravened Section 314 of the Criminal Law of Lagos State, 2015(Revised).
The News Agency of Nigeria (NAN) reports that Section 314 prescribes a 15-year jail term for offenders.
The accused, however, pleaded not guilty to the charge.
The Chief Magistrate, Mr Titus Abolarinwa, granted him bail in the sum of N200, 000, with two sureties in like sum.
Abolarinwa adjourned the case until June 28 for mention. (NAN)