Olusegun Ogunbanjo, 45, was charged to court over N950 million scam on Thursday in Lagos with allegedly defrauding two men.
According to our correspondent, the defendant was charged with three counts in a Sabo-Yaba Chief Magistrate’s Court.
On the charges of forging documents, stealing, and obtaining under false pretenses, he entered a not-guilty plea.
The defendant committed the offenses in Ikorodu neighborhood of Lagos State between January 2017 and December 2022, according to the prosecutor, Deputy Superintendent of Police Rita Momah.
Momah claimed that the defendant received N450 million and N500 million from Mr. Olusola Lkuyajesin and Mr. Durodola Balogun, respectively, under false pretenses of utilizing the funds to purchase stationery.
She continued by stating that the defendant violated Sections 287, 314, and 365 of the Lagos State Criminal Code by forging Local Purchase Orders issued by an organization to carry out the actions.
He was granted bail in the amount of N10m with two sureties in the same amount by the Chief Magistrate, Ms. Adeola Olatubosun.
The defendant must leave his passport with the court, according to Olatubosun’s decision.
She further stipulated that one of the sureties must own land that is subject to the jurisdiction of the court.
She set a substantive hearing for April 5th in the case.