A 44-year-old insurance company marketer, Adekunle Gboyelade, who allegedly bolted with his employer’s N1.3 million, was on Thursday released on N500,000 bail on the orders of an Ikeja Magistrates’ Court.
Gboyelade, who works for Mutual Benefits Life Assurance Ltd, Lagos, and lives at Onaara Street, Gashiru, Sango-Ota, Ogun,
is facing a two-count charge of stealing and obtaining money under false pretences.
He, however, denied the charge.
The Magistrate, Mrs Y.R. Pinheiro, in her ruling, also directed the accused to produce two sureties as part of the bail condition.
According to Pinheiro, the sureties should be gainfully employed and also show evidence of two years’ tax payment to the Lagos State Government.
Earlier, the Prosecutor, Insp. Mathew Akhaluode told the court that the accused committed the offences between 2013 and 2016 at Mutual Benefit Life Assurance Ltd located at No. 19/21, Town Planning Way, Ilupeju, Lagos.
Akhaluode alleged that the accused collected N1.3 million from various customers on the pretext of remitting the money into their policy accounts.
“The accused, instead of remitting the money into the company’s account as promised, converted it to personal use.
“The company reported the case to the police and Gboyelade was immediately arrested.”
The offences contravened Sections 287 and 314 of the Criminal Law of Lagos State, 2015 (Revised).
The News Agency of Nigeria (NAN) reports that the accused risks a 15-year jail term on conviction for obtaining under false pretences.
The case was adjourned until June 6 for mention.