A 47-year-old man, Tokunbo Daramola, found himself in a precarious situation on Thursday as he faced the Ebute-Metta Chief Magistrate’s Court in Lagos, accused of a staggering N27.5 million fraud.
The Nigeria Police brought the charges against him, alleging that he had employed deceitful tactics to swindle a company, Prohaul Energy & Logistics Limited, out of a substantial sum.
According to Assistant Superintendent of Police Ben Ekundayo, the prosecutor in the case, Daramola’s actions were a clear case of obtaining by false pretence. The alleged fraud occurred on a fateful day in July 2023, at 10 am, on Ladipo Kuku Street, off Allen Avenue, Lagos.
The police claim that Daramola attempted to use an outdated Polaris Bank cheque, which had been phased out by the Central Bank of Nigeria, to secure the massive sum.
The wheels of justice have begun to turn, and Daramola’s audacious attempt at deception has ultimately led to his day of reckoning.
According to the prosecutor, the offence committed is punishable under Section 322(1) of the Criminal Law of Lagos State, 2015.
Read also: Court Sentences Vietnam Billionaire To Death Over Fraud
However, the defendant pleaded not guilty to the offence against him.
Following his not-guilty plea, the prosecutor urged the court to remand him to the facility of the Nigerian Correctional Service, pending the determination of the charge.
But the defendant through his lawyer, urged the court to grant him bail in the most liberal terms, on the grounds that the charge against him was a bailable one.
After carefully considering the arguments put forth by both legal representatives, Magistrate Atinuke Adetunji granted the defendant bail, setting it at N3 million, and requiring two sureties to match the amount.
Furthermore, the magistrate ordered that each surety must be a resident within the court’s local jurisdiction and demonstrate a track record of three years of tax payment to the Lagos State administration.
Moreover, she stressed that the sureties must be gainful employed.
Furthermore, Magistrate Adetunji mandated that the defendant remain in custody at the correctional center until he could satisfy the terms of his bail. Thus, the hearing was adjourned until May 8, 2024.