The Police in Osun, on Friday, arraigned one Onifade Olabisi, 27, before an Ile-Ife Magistrates’ Court over alleged N340,000 fraud.
The Prosecutor, Insp Adesina Elijah, told the court that the defendant committed the offences on Oct 10 around 11:05 a.m. at Oke-Ogbo area of Ile-Ife.
Elijah said that the defendant falsely obtained the sum of N340,000 from one Agbo Anthony under the pretext of supplying him 262 kilogrammes of cocoa beans, which turned out to be false.
He added that the defendant fraudulently converted the amount to his own.
According to him, the offences contravene Sections 383, 390(9) and 419 of the Criminal Code, Laws of Osun, 2002.
READ ALSO : UNN students protest increase in school fees
The defendant, however, pleaded not guilty to the two-count charge bordering on fraud and illegal conversion.
The Defence Counsel, Mr Ben Adirieje, pleaded for bail for the defendant in the most liberal term, promising that his client would not jump bail, but would provide reliable sureties.
Magistrate O.T. Badmus, granted the defendant bail in the sum of N100,000, with one surety in like sum.
Badmus said that the surety must swear to an affidavit of means while reside within the court’s jurisdiction, while the address must be verified by the prosecutor.
He stated further that the surety must be gainfully employed and produce three years’ tax clearance certificate.
The Magistrate ordered the remand of the defendant in Ile-Ife Correctional Centre, pending the perfection of his bail.
He, thereafter, adjourned the case till Dec 23 for hearing.
