A 46-year-old man, Saidi Omilabu, on Friday appeared in an Ogudu Magistrates’ Court, Lagos, for allegedly defrauding a Cooperative Society of N900,000.
Omilabu, who resides at Mushin area of Lagos, is facing a two-count charge of stealing and fraud.
He, however, pleaded not guilty to the charges.
The prosecutor, Insp. Donjour Perezi, told the court that the defendant committed the offences on Aug. 2019, at Epetedo Street, Ogudu, Lagos.
Perezi said that the defendant borrowed the money from Oyosowapo Cooperative Society and refused to pay back.
He said that the defendant, who collected the money under false pretences, issued three dud cheques, which were not honoured due to insufficient funds in his account.
Perezi said the offences contravened sections 287 and 314 (1) of the Criminal Law of Lagos State, 2015.
The News Agency of Nigeria (NAN), reports that Section 287 stipulates three years jail term for stealing.
The Magistrate, Mrs O.A Daodu, granted the defendant bail in the sum N250, 000 with two sureties in like sum.
Daodu ordered that the sureties should provide evidence of tax payments to the Lagos State Government.
She adjourned the case until March 11 for further mention.