A 67-year-old man, Olatunde Cole, appeared before a Yaba Chief Magistrates’ Court, Lagos, on Wednesday for alleged property fraud of N24.6 million.
Cole, a resident of Mushin area of Lagos, is facing a three count charge of conspiracy, obtaining by false pretences and stealing.
He, however, pleaded not guilty to the charge.
Police prosecutor, SP Idowu Osungbure, told the court that the defendant committed the offences sometime in 2016, at No 90, Fredrick McQueen Street, Lagos.
Osungbure said the defendant, with an accomplice still at large, leased a property to the complainant, Mr Owoyele Kadiri, knowing fully well that the property was not theirs.
She said that the defendant stole the N24.6 million and did not give the complainant access to the property.
The News Agency of Nigeria (NAN) reports that Section 314 is punishable by 15 years imprisonment for obtaining by false pretences while 287 stipulates three years imprisonment for the offence of stealing.
Chief Magistrate, Mrs Adeola Adedayo, admitted the defendant to bail in the sum of N2 million with two responsible sureties in like sum.
Adedayo held that the sureties must also submit copies of their National Identification Number (NIN) and Bank Verification Number (BVN) to the court.
She further directed that one of the sureties must be a land owner, both must be residing within the court’s jurisdiction and gainfully employed with evidence of three years tax payment to the Lagos State Government.
Adedayo adjourned the case until June 7 for mention. (NAN)