A 54-year-old man, Tajudeen Oladega, was on Wednesday arraigned for allegedly obtaining the sum of N60 million from a new generation bank under the pretext of constructing a filling station.
Oladega appeared before an Ebute-Meta Chief Magistrates’ Court, Lagos, facing a four-count charge bordering on obtaining under false pretext, fraud, and issuing a dud cheque.
The accused, however, pleaded not guilty.
Earlier, the Prosecutor, Sgt. Kehinde Omisakin, had told the court that the accused committed the offences sometime in 2016 at Stanbic IBTC Bank, Idejo St., Lagos.
According to Omisakin, the accused approached the bank for a loan of N60 million for the construction of a petrol station.
“When it was, however, time to pay back, the accused presented various cheques, which were all dishonoured for lack of sufficient funds,” he said.
The offences, he said, violated Sections 312, 319 and 419 of the Criminal Law of Lagos State 2015.
The Chief Magistrate, Mrs O.A. Komolafe, however, admitted the accused to a bail of N10 million with two responsible sureties each in like sum.
The case was, thereafter, adjourned till Oct. 25, for mention. (NAN)