A 54-year-old man, Gabriel Atie, on Wednesday appeared before a Magistrates’ Court in Ikeja, Lagos, for allegedly obtaining a N2 million loan fraudulently from a micro finance bank.
Atie, whose address was not given, is facing a four-count charge bordering on fraud, cheating and stealing.
The Prosecutor, ASP Kehinde Ajayi, told the court that the defendant sometime in May 2019, fraudulently obtained a N2 million loan from Fina Trust Micro Finance Bank.
He said the defendant fraudulently secured the loan from the bank located at Toyin Street, Ikeja, Lagos, under the pretext of using it to facilitate a business.
“Atie collected the loan with agreement to pay back with interest, but failed to do so.
“All efforts made by the bank for the defendant to repay the loan proved abortive, as he absconded to an unknown destination and was unreachable through phone.
“Atie was later apprehended and handed over to the police for questioning.
“He agreed to pay the said sum at an agreed date, but issued a dud Union Bank cheque to the micro finance bank, claiming to have money in the said bank,” Ajayi said.
According to the prosecutor, the offences contravene Sections 168 (D), 287, 323 and 314 of the Criminal Law of Lagos State, 2015.
The defendant, however, pleaded not guilty.
In her ruling, the Chief Magistrate, A.O. Ajibade, granted the defendant bail in the sum of N500, 000 with two sureties in like sum.
The chief magistrate adjourned the case until March 3 for mention. (NAN)