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Trader docked over alleged failure to repay N1.5 million bank loan

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A 46- year-old woman, Margaret Ezeagu, who allegedly defaulted in paying back N1.5 million bank loan was on Tuesday docked at an Ikeja Chief Magistrates’ Court.

The defendant, a trader, who resides at Agege, Lagos, is charged with obtaining by false pretenses and stealing.

The prosecutor, ASP Benson Emuerhi told the court that the offences were committed on Oct. 30, 2017 at Jessefield Micro finance Bank , Ikeja.

Emuerhi said that the defendant obtained the N1.5 million from the bank on the pretext that she would use it for her business and repay it within three months.

“Since then the defendant absconded and was no where to be found. All efforts to see her failed until the police got a tip off about her whereabout and then had her arrested,” he said.

The offences, according to the prosecutor, contravened Sections 280 and 315 of the Criminal Law of Lagos State, 2015.


The defendant, however, pleaded not guilty to the charges.

The Chief Magistrate, Mrs Olufunke Sule-Amzat , granted the defendant bail in the sum of N100,000 with two sureties in like sum.

Sule-Amzat adjourned the case until Nov. 14 for mention.(NAN)


MTO/AOS

Edited by Bayo Sekoni

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