A 52-year-old man, Adesiyan Sikiru, was on Wednesday arraigned at an Osun Magistrates’ Court sitting in Ile-Ife over alleged N1.8 million fraud.
The Prosecutor, Insp. Sunday Osanyintuyi, had told the court that the accused committed the offences sometimes in 2017 by noon at Zenith and Fidelity bank branches in Lagere area of Ile-Ife.
Osanyintuyi said that the accused obtained N1.8 million from one Omisakin Taiwo on the pretense of supplying him cocoa beans worth N1.8 million.
He said that the accused took the N1.8 million that belonged to Taiwo and maliciously broke a contract of produce buying between himself and Taiwo.
According to him, the accused threatened to stab Taiwo with an object, saying the offences contravened Sections 305A (2), 383, 390 (9) and 419 of the Criminal Code, Laws of Osun, 2002.
The accused, however, pleaded not guilty to the four-count charge of fraud, stealing, malicious breaking and life threatening.
The Defense Counsel, Miss Lai-Ibrahim, applied for the bail of the accused in most liberal terms, and promising that her client would not jump bail, but would provide reliable sureties.
The Magistrate, Mr Olalekan Ijiyode, granted the accused N500, 000 bail with two sureties in like sum.
Ijiyode directed that the sureties must swear to affidavit of means, reside within the court’s jurisdiction, the address of the sureties be verified by the prosecutor as well as their two recent passport photographs each.
He adjourned the case until Nov. 19 for hearing.