The Police on Monday arraigned one Kolawole Damilare, 35, in an Ikorodu Magistrates’ Court in Lagos for allegedly obtaining N1m under false pretext.
Damilare, who is of no fixed address, is facing a two-count charge bordering on obtaining money by false pretence and stealing.
The Prosecutor, Insp. Ekundayo Friday, told the court that the accused committed the offence on June 22 at No 97 Aina Adenuga street, at the back of Agbede transformer, Ita-Oluwo area of Ikorodu.
Friday said that the accused fraudulently obtained N1 million with the intention to steal from one Mr Shaki Ande, Managing Director, Shaki Automart Limited.
He said the accused at the same time and date converted N1.25m to his personal use without the consent of the owner.
The prosecutor said that the offences contravene Sections 314(1b) and 280(2e and f) of the Criminal Laws of Lagos State, 2015.
The News Agency of Nigeria (NAN) reports that section 314 stipulates 15 years jail term for obtaining by false pretence, while section 280 provides three years for stealing if found guilty.
The accused, however, pleaded not guilty to the charges preferred against him.
The Magistrate, Mrs A.R. Onilogbo, granted the accused bail in the sum of N250,000 with two sureties in like sum and adjourned the case until Dec. 16 for mention. (NAN)