Ibadan: A 36-year-old man, Ismail Kehinde, on Thursday secured ₦1 million bail from an Iyaganku Chief Magistrates’ Court, where he is standing trial for alleged ₦3.78 million fraud.
The defendant, whose residential address was not disclosed, is facing charges of fraud and theft.
The prosecuting counsel, Cpl. Oluwaseun Johnson alleged that the defendant, between May and June, at the Saki area of Oyo State, obtained the sum of N3,778,000 from a trader, Olalekan Opeyemi, the complainant.
Johnson alleged that the defendant collected the money under the pretence of supplying beans to the complainant, which claim he knew to be false.
She alleged that the defendant stole the money from the complainant and converted it to his use.
Johnson said the offence contravened Section 383 and was punishable under Sections 390 (9) and 419 of the Criminal Code Laws of Oyo State 2000.
The defendant pleaded not guilty to the charges.
The Magistrate, Mr M. Mudashiru, admitted the defendant to bail in the sum of N1 million with two sureties in like sum.
Mudashiru said one of the sureties must reside within the court’s jurisdiction.
He further ordered that while one of the sureties must provide a three-year tax clearance, the other must be a blood relation of the defendant.
