The police on Friday arraigned a 40-year-old woman, Helen Babautah, before an Apapa Magistrate’s Court for allegedly stealing the sum of N8,550,000 under the pretence to grant loan of N85,500,000.
Babautah is facing a fifteen-count charge of conspiracy, fraud and stealing.
The prosecutor, Inspector Edet Ekpo, told the court that the defendant committed the offences between October 10 and November 6, 2019 at Agric Market, Amukoko, Lagos.
“The defendant conspired with others to defraud and obtain the sum of N550,000 from one Augustine Okoli and the sum of N2 million each from Jude Ikenna Izunwanne, Kelechi Enyinwa, Ezeugwunne Emmanuel and Emeka Anyakuba with intent to lend Okoli the sum of N5,500,000 and others the sum of N20 million from Renmoney Microfinance Bank located at No 32, Awolowo Road, Ikoyi, knowing same to be false.
According to him, the offences are punishable under sections 411, 314 (1b), 287 and 340 of the Criminal Law of Lagos State of Nigeria 2015.
The defendant pleaded not guilty to the charges.
Magistrate Nurudeen Layeni granted her N500,000 bail with two responsible sureties in like sum.
The sureties are required to furnish the court with evidence of tax payment to Lagos State Government. One of the sureties must be a pastor.
He adjourned the case till January 15, 2020 for mention.