24- year-old business woman, Tolulope Akintan, on Monday appeared before an Ikeja Chief Magistrates’ Court for alleged N11 million fraud.
The defendant, who resides at Olatunde Oropo Street, Ajah, Lagos, is being tried for obtaining by false pretence and stealing.
The prosecutor, ASP Raji Akeem, told the court that the offences were committed in June 2022 at Ikeja.
Akeem told the court that the defendant had allegedly approached the City Gate Global Investment Company for a loan to boost her business.
The prosecutor alleged that the defendant was granted the N11 million loan, after meeting the requirements and was expected to pay back within a specific time.
Akeem told the court that the defendant and her guarantor, who allegedly failed to meet the repayment conditions, absconded.
The offences, according to the prosecutor, contravene Sections 287 and 314 of the Criminal Law of Lagos State, 2015.
The defendant, however, pleaded not guilty to the charges.
The prosecutor, Bola Osunsanmi, granted the defendant bail in the sum of N500, 000 with two sureties in like sum.
Osunsanmi adjourned the case until Aug. 31 for mention.