Man Remanded For N3.2m Fraud In Ibadan

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A 46-year-old man identified as Saheed Adebayo was arraigned before an Iyaganku Magistrates’ Court in Ibadan, Oyo State, on Monday for allegedly committing N3.2 million fraud.

Adebayo, who has no established residence, is accused of theft and has pleaded not guilty.

Insp Femi Oluwadare, the Police Prosecutor, told the court that the defendant committed the offence between June 30 and December 30, 2022, in Kuola, Ibadan.

He stated that Adebayo was hired to manage six commercial motorcycles belonging to the complainant, Ayomikun David.

Oluwadare went on to say that the six motorcycles, worth N3.2 million, were handed to motorcyclists with the condition that they make daily returns to the complainant through Adebayo.

According to the prosecutor, the defendant refused to pay the returns to the complainant and the owner of the business, instead converting the money for personal use.

He claimed that the offence violated Section 390(9) of Oyo State’s Criminal Laws 2000.

The Magistrate, Mr Maruff Mudashiru, granted the defendant N1 million bail with two reputable sureties in the same amount.

Mudashiru set the hearing date for August 12th.

New Telegraph

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