Ikeja, March 12, 2019 A 38-year-old trader, Olamide Yusuf, on Tuesday, appeared before an Ikeja Magistrates’ Court in Lagos, for allegedly absconding with a N200, 000 loan he took from a micro finance company.
Yusuf, who resides in Agege area of Lagos, is facing a two-count charge of obtaining money under false pretences and stealing.
He, however, pleaded not guilty to the charge.
The Prosecutor, Insp. Josephine Ikhayer, told the court that the defendant committed the offence in June 2016 in Abule-Egba, Lagos.
Ikhayer said the defendant fraudulently obtained the money from Gold Micro-Finance Bank and agreed that he would pay back, a representation he knew was false.
“The defendant collected the loan with pretext of using it for business and with an agreement to pay back after a month but he absconded with it.
“He relocated from the address he gave to the bank to unknown location and refused to pick his calls. Yusuf was later arrested after 33 months of disappearance,” he said.
The prosecutor said the offence violated Sections 287 and 314 of the Criminal Law of Lagos State, 2015.
The News Agency of Nigeria reports that Section 287 stipulates three years imprisonment for stealing, while Section 314 prescribes 15 years for obtaining money under false pretences.
The Magistrate, A.K. Dosunmu, admitted the defendant to bail in the sum of N100, 000 with two sureties in like sum.
Dosunmu said that the sureties should be gainfully employed and should show evidence of two years tax payment to the Lagos State Government.
The case was adjourned until March 27 for mention.
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