NAN- A 38-year-old businessman who allegedly defrauded Sterling Bank Plc of N50m appeared before a Yaba Chief Magistrates’ Court in Lagos on Wednesday.
The accused, Daniel Oduboye, who lives at 4, Olumuyiwa Oduwole St., Magodo GRA, Ketu, in Lagos State , is facing four-counts bothering on conspiracy, stealing, obtaining by pretext and forgery.
The prosecutor, ASP Godwin Anyanwu, told the court that the offences were committed in June 2013 at Sterling Bank Plc, Daleko Branch, Mushin in Lagos State.
Anyanwu said that Oduboye approached the bank to take a loan of N50m.
“Oduboye presented a forged Certificate of Occupancy (C of O) of a property in Ogun, as part of the documents required by the bank as collateral, to obtain the facility,
“He, however, refused to service the loan facility since 2013.
“He also presented a N5m cheque that was dishonored by Sterling Bank Plc after it had made several attempts to recover the loan from the accused,” the prosecutor said.
Anyanwu said the offences contravened Sections 312, 363, 319 and 409 of the Criminal Law of Lagos State, 2011.
Odugboye pleaded not guilty to the charges.
The Magistrate, Mrs Yewande Aje-Afunwa, granted the accused bail in the sum of N5million, with two sureties in like sum and adjourned the case to Dec. 19, for trial.