Legal Nigeria

Lagos trader defrauds microfinance bank of N21m

A man, Jude Atuanya, who allegedly defrauded a Lagos microfinance bank of N21million with others still at large, has been released on bail on the order of a court. An Ikeja Chief Magistrates’ Court presided over by Mrs O. A. Layinka, granted the accused a bail of N1 million with two sureties in like sum.
The 34-year-old trader, who lives at House 23, 3rd Avenue Close, Hotel Estate, Ojo, off Lagos-Badagry Expressway, is facing a three-count charge of conspiracy, fraud and stealing. The accused, however, denied the charge.
The prosecutor, Sgt. Donjor Perezi, told the court that the offences were committed sometime in June 2015 at Addosser Micro Finance Bank on Lagos Island. Perezi said the accused with three others still at large collected a loan from the bank and forged some documents to secure the loan.
“The accused and his accomplices also forged a document used as collateral which they submitted to the bank.’’ The offences contravened Sections 285, 312 and 409 of the Criminal Law of Lagos State, 2011. The magistrate adjourned the case to Nov. 22 for mention.

Source : Vanguard