A 33-year-old woman, Purity Obasi, on Monday, appeared before an Ikorodu Magistrates’ Court in Lagos for allegedly converting N6,492,500 advanced her to establish a business to her own personal use.
Obasi, whose address was not provided, is facing a charge of criminal conversion.
The Prosecutor, Insp Christian Okonofua, told the court that the defendant committed the offence sometimes between Oct. 18, 2022 and Dec. 5, 2022, at No. 10, Living Fountain Close, Owode Elede area of Ikorodu, Lagos.
Okonofua alleged that the defendant converted N6,492,500 advanced to her to start a business trading in Cameroon pepper and Orima spice.
He said the defendant fraudulently converted the money collected from the complainant, one Mr Etukpo Ifeanyi, to her personal use.
The prosecutor said that the offence allegedly committed contravened Sections 314 of the Criminal Law of Lagos State, 2015.
The defendant, however, pleaded not guilty to the charge.The Magistrate, Mrs T. A. Shotobi, granted the defendant bail in the sum of N500,000 with two sureties in like sum.
Shotobi directed the prosecutor to verify the addresses of the sureties and adjourned the case until Aug. 10 for mention. (NAN)