Archive Lagos trader elopes with N2.8m loan

Lagos trader elopes with N2.8m loan


- Advertisment -
A Lagos trader, Usman Umaru, 45, has been dragged to court for allegedly failing to repay a N2.8 million loan he collected from a Lagos-based investment company.
Umaru appeared before an Abule Egba Magistrates’ Court, Lagos, on Monday.
The accused, who until his arrest resided at 17, Akinola Close, Abule Egba, a Lagos suburb, is facing a two-count charge of obtaining money under false pretenses and stealing.
Umaru pleaded innocence on the offences.
The prosecutor, Inspector Racheal Williams, told the court that the accused committed the offences by defrauding Denon Finance and Investment Company of N2.8 million; on September 13, 2013, at its office situated at 8, Ogunrinde St., Katangowa Market, Abule-Egba Road, Lagos.
According to the prosecutor, the accused got the loan from the company with a promise to repay after one month.
She said: “The accused collected the loan under the pretext of repaying it after a month as agreed by the two parties. The accused presented a dud cheque which was dishonoured at the bank and he has since been on the run”.
Williams said the offences contravened Sections 284 and 312 (3) of the Criminal Law of Lagos State, 2011.
Mrs. Adenike Shonubi, the Magistrate, granted the accused in the sum of N1.5 million with two sureties in like sum prior to adjourning the case to July 7 for trial.


Please enter your comment!
Please enter your name here

Latest news

COVID-19: Nigeria to Launch 38 oxygen Plants Across the Country

President Muhammadu Buhari has given the go ahead for the launching of at least 36 oxygen plants across the...

Minister Talks Tough On Violence Against Women, Girls

By IJEOMA UKAZU | ...Says Nigeria Must Mainstream Gender Following the high rate of Violence Against Women And Girls, VAWG in...

Christian Aid Appoints First Director Based Outside the UK

Christian Aid has appointed its first director based outside the UK. Nigeria-based Ojobo Ode Atuluku will join the charity at the...

Lauretta Onochie’s Affiliation with APC Makes Her Unfit as INEC National Commissioner – KDI

Kimpact Development Initiative (KDI) has expressed concern on the nomination of Ms. Lauretta Onochie, a political appointee and Senior...

Schools must be Open, Accessible and Safe from Attacks, say African children

African children speak out about how the COVID-19 pandemic tipped an existing education safety crisis to breaking point While the...

Day of the African Child: Nigeria Children Advocates For A Better Continent

By IJEOMA UKAZU |  "There are children out there who are vulnerable to violence, exposed to danger, forced into labour,...

Must read

Minister Talks Tough On Violence Against Women, Girls

By IJEOMA UKAZU | ...Says Nigeria Must Mainstream Gender Following the...
- Advertisement -

You might also likeRELATED
Recommended to you

%d bloggers like this: