Man Accused Of N5.3m Fraud Remanded

By Miracle Imohimi And Bayo OgungbeA 35-year-old Musibau Muhideen was arraigned before a Magistrate Court sitting in Osogbo for allegedly defrauding Osun State Investment Company to the tune of N5,035,168 under the pretence of selling the company’s goods.

Musibau who was also an agent in the said company was docked on two court charges of fraud and stealing.

The prosecutor, Inspector Sunday Ajayi told the court that the accused person fraudulently obtained the company’s product such as milo, milks, magi, nido, tea, conflates and cerelac worth a sum of N5,035,168 with the pretence to sell same and remit the proceeds into the company’s account but converted the money to his own use.

He added that the two offences are contrary and punishable under section 419 of criminal code cap 34 vol. II and under section 390(6) of criminal code cap of 249(d)  vol.II laws of Osun State of Nigeria 2003.

The accused pleaded not guilty to the charges alleged against him claiming he did not know how the money got missing.

The defence counsel, Taiwo Awokunle applied for the bail of the accused person.

However, the Presiding Magistrate, M.O Awodele said the former bail of the accused should be filed and the accused person is to be remanded in Ilesa prison.

The case was adjourned to 29th of October 2018 for settlement.