-An Upper Area Court in Gudu has has granted the bail of N10 million to a man for allegedly cheating a credit facility N9, 480, 000
-The defendant was said to have collected the money for the supply of rice
-He was granted bail with two sureties
An Upper Area Court in Gudu district, Abuja on Thursday, February 4, granted a bail of N10 millon to one Mitchel Otubor for allegedly cheating a credit facility outfit of N9, 480, 000.
The News Agency of Nigeria reports that the judge, Umar Kagarko, granted the defendant bail with two sureties that must reside within the court’s jurisdiction.
Kagarko also ordered that the defendant should submit his international passport to the court’s registrar and adjourned the case to March 29 for hearing.
The defendant, who works with Tomeruz Transitional Concept Nigeria Limited, Abuja, is standing trial on a three-count charge of criminal breach of trust, cheating and criminal misappropriation.
Earlier, the prosecutor, Patrick Ogele told the court that one Mr Adekunle Olosagbe of the Rock Consumer Credit, Area 11, Garki, Abuja reported the matter to the Commissioner of Police, federal capital territory (FCT) Command on January 29.
He said the defendant, went to the plaintiff’s office with one Zubairu, who is a business partner to the plaintiff, to seek a loan from the plaintiff sometime in Oct. 2015.
Ogele said the defendant had gone to the plaintiff’s office with a contract paper for the supply of 120 bags of rice at the cost of N9, 480, 000 to Prison Cooperative, Edo branch.
He further said that the defendant allegedly conspired with one Ukeh Arinze, a rice vendor with a warehouse in Suleja, Niger State, to supply the rice after payment was made.
The prosecutor said N9, 480, 000 was paid in two instalments by the plaintiff into Arinze’s Fidelity Bank account for the rice, with an agreement that Otubor would pay back N12, 600,000 including the interest on the loan.
Ogele said when the defendant was unable to pay back the loan as agreed, the plaintiff went to Arinze to inquire about the duplicate of the invoice for the rice.
He said it was at that point that the plaintiff discovered that Otubort had collected back the money paid into Arinze’s account and converted same to his personal use.
He said: The defendant told Arinze that he was no longer interested in the rice supply and converted the money to his personal use.”
The prosecutor also told the court that Otubor had attempte to leave the country while police investigation on the matter was ongoing.
The defense counsel, Missa Akintola made a bail application in favour of his client assuring the court that the defendant would not jump bail, if granted.
Similarly, a Federal High Court sitting in Jos, the Plateau state capital, has ordered the prison remand of the Bishop of Maranatha Church, Jonas Katung, and the managing director of Dadin Kowa Microfinance Bank Limited, Irmiya Jatau, for defrauding hundreds of depositors.