Two persons arraigned in court for disappearing with over a million

Two persons identified as Samson Agboola and Adebayo Ajiboye have been arraigned before a Magistrate Court sitting at Igbosere, Lagos State for allegedly disappearing with about N1.8million loan they obtained from one of the commercial banks in Nigeria.

Agboola and Ajiboye, both 43years of age, it was learnt were arraigned before Ms T. A. Idowu on a four-count charge of conspiracy, fraud, stealing and issuance of a dud cheque.

Police Prosecutor, Sgt. Friday Mameh while addressing the court alleged that the defendants committed the offences on January 22 at Addosser Microfinance Bank Plc, No.32, Lewis Street, Lagos Island.

The court heard that the duo obtained N1.8 million from the bank, under the guise of improving their business.

They signed an agreement to repay the loan in monthly installments but failed to do so.

Mameh said: “The defendants ran away to an unknown destination and when they were caught by the police, they issued an FCMB cheque marked 26659121 in the sum of N2.3 million as repayment for the loan.

“The cheque was dishourned when presented due to insufficient funds in the defendants’ account.”

According to Mameh, the offences contravened Sections 287, 314, 321(b) and 411 of the Criminal Law of Lagos State, 2015 and punishable under same.

Agboola and Ajiboye pleaded not guilty to the charges.

Their counsel, Mrs. Ngozi Ibe, applied for their bail “on liberal terms.”

Magistrate Idowu upheld her application and granted each defendant bail in the sum of N250,000 with two sureties in like sum.

The case continues on August 7.