A 54-year-old man, Eigbafoh Smith who allegedly obtained N5 million from a cooperative society under false pretences, was on Monday brought before an Ebute Meta Chief Magistrates’ Court in Lagos.
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Smith, whose address was not provided, is facing a three-count charge bordering on obtaining under false pretext and issuing dud cheque.
He however, pleaded not guilty to the charges.
The Prosecutor, Insp. Chinalu Uwadione, told the court that the defendant committed the offences in August 2019, at First Pioneer Cooperative Multipurpose Service Ltd, Ikeja.
Uwadione said the defendant fraudulently obtained the N5 million and promised to pay back, a representation he knew was false.
He also said that the defendant issued three dud cheques which were dishonoured due to lack of sufficient funds in his account.
The offences contravened Sections 314, 321 and 411 of the Criminal Law of Lagos State, 2015.
The Chief Magistrate, Mrs Adeola Adedayo granted him bail in the sum of N1 million with two sureties in like sum.
Adedayo adjourned the case until March 9 for mention.