Businessman accused of defrauding N2m’s microfinance bank –
A 44-year-old businessman, Emmanuel Ekweanua, was docked at a Magistrates’ Court in Ogudu, Lagos on Monday for allegedly defrauding a microfinance bank of N2million.
Police accused Ekweanua, who resides in the Ikeja area of Lagos, of obtaining money under false pretences, stealing and issuing a failed cheque.
The accused pleaded not guilty to the charge.
Prosecution Counsel, Insp Sunday Bassey told the court that the accused committed the offense on August 19, 2021 at Jesse Field Microfinance Bank, Ketu, Lagos.
Bassey alleged that the defendant fraudulently obtained 2 million naira from the bank for a business scheme with a promise of repayment on February 2, but reneged on his promise
Police alleged that the accused issued bank checks worth N900,000 and N360,000 which were dishonored due to insufficient funds.
Bassey told the court that police later arrested the accused following a complaint by bank staff member Anthony Ehichioya.
The prosecutor said the offense contravened the provisions of Sections 287, 314 and 321 of the Lagos State Criminal Act, 2015.
The News Agency of Nigeria reports that Section 287 provides three years imprisonment for theft while Section 314 attracts 15 years for obtaining money under false pretences for any convicted offender.
Magistrate OA Daodu admitted the defendant to bond the sum of N400,000 with two sureties of a similar sum.
Daodu ordered the sureties to have gainful employment, one of them being a blood relative.
It further ruled that guarantors must submit evidence of two years of tax payments to the Lagos State Government as part of the bail conditions.
She adjourned the case until July 5 for citation.