A 46-year old businessman, Taoreed Kafo, was on Friday arraigned in Lagos for allegedly obtaining the sum of N10 million under false pretences.
Kafo, however, pleaded not guilty to the charge.
Kafo, who resides at No. 4 Macaulay St., Lagos Island, Lagos, appeared at a Yaba Chief Magistrates’ Court, Lagos, on a two-count charge of obtaining under false pretences and stealing.
The Prosecutor, Insp. Roman Unuigbe, told the court that the accused committed the offences sometime between April 3, 2013 and Dec. 29, 2014 at No. 161 Tokunbo, Off Freeman St., Lagos.
Unuigbe said that the accused obtained the sum of N10 million from the complainant, one Basirat Oredoyin, under the pretext of using the money for a project.
He explained that the complainant, who is a former wife of the accused, sold her house to help the accused build a hotel which he successfully accomplished.
The prosecutor said that the accused had since 2014 failed to repay as promised.
He said that the complainant’s efforts to get her money back from her ex-husband proved abortive.
According to the prosecutor, the offences contravened Sections 285 and 312 of the Criminal Law of Lagos State, 2011.
The News Agency of Nigeria (NAN) reports that Section 312 prescribes seven years imprisonment for anyone found guilty of obtaining by false pretence.
The Chief Magistrate, Mr P.A Ojo, granted the accused bail in the sum of N500, 000 with two sureties in like sum.
He adjourned the case till March 16 for substantive trial.