Police arraign accountant over alleged N4.5m fraud

The police in Lagos on Friday arraigned a 27-year-old accountant, Oke Peter, before a Badagry Chief Magistrates’ Court Lagos, over alleged N4.5 million fraud.

Peter, whose address was not provided, is facing a charge of stealing, to which he pleaded not guilty.

The Prosecutor, ASP Edet Ekpo, told the court that the defendant committed the offence on Sept. 5 at 10a.m. at Mega Mart Mall Ltd in Mowo area of Badagry.

Ekpo alleged that the defendant defrauded the company of N4.5 million out of the sales capital under his supervision, property of the complainant, Mr David Uniugbe.

He said that the complainant reported the case to the police and the defendant was arrested.

Ekpo said that the offence contravened the provisions of Section 287 (7) of the Criminal Law of Lagos, 2015.
The News Agency of Nigeria (NAN) reports that the section stipulates seven years jail term for stealing from one’s employer.

The Chief Magistrate, Mr Nurudeen Layeni, granted the defendant bail in the sum N1million with two sureties in the like sum.

Layeni said that one of the sureties must be a community leader, who must deposit N50,000 in the court Chief Registrar’s account.

He adjourned the case until Oct.10 for mention (NAN).