Businessman gets N10m bail for N141m export ‘fraud’

An Igbosere Magistrates’ Court yesterday granted a
businessman, Chekwube Okafor, N10 million bail following his
arraignment for allegedly obtaining N141.6 million from his partner
under the pretext of exporting wood to China.

Chief Magistrate O. A. Botoku’s ruling followed Okafor’s
arraignment by the police on a three-count charge of conspiracy,
stealing and fraud.

He pleaded not guilty.

Magistrate Botoku also ordered Okafor to produce two sureties in
the like sum, who must also be gainfully employed and show evidence
of tax payment.

She adjourned till May 15.

Earlier, prosecuting Inspector Steven Molo alleged that Okafor
committed the offences between October 2016 and February 2017, at
Alaba, in Ojo Local Government Area (LGA) of Lagos State.

He said the defendant fraudulently obtained N141.6 million from
his business associate, Ifeanyi Okoli, under the guise of exporting
44 20-foot containers of wood to China.

“The complainant did not receive the containers of wood which
the defendant obtained money for; he did not even pay back the said
money to the complainant.

“The defendant knew that the representation he made was false,”
Molo told Chief Magistrate Botoku.

According to him, the offences contravened Sections 287, 314 and
411 of the Criminal Law of Lagos State, 2015.

An Igbosere Magistrates’ Court yesterday granted a
businessman, Chekwube Okafor, N10 million bail following his
arraignment for allegedly obtaining N141.6 million from his partner
under the pretext of exporting wood to China.

Chief Magistrate O. A. Botoku’s ruling followed Okafor’s
arraignment by the police on a three-count charge of conspiracy,
stealing and fraud.

He pleaded not guilty.

Magistrate Botoku also ordered Okafor to produce two sureties in
the like sum, who must also be gainfully employed and show evidence
of tax payment.

She adjourned till May 15.

Earlier, prosecuting Inspector Steven Molo alleged that Okafor
committed the offences between October 2016 and February 2017, at
Alaba, in Ojo Local Government Area (LGA) of Lagos State.

He said the defendant fraudulently obtained N141.6 million from
his business associate, Ifeanyi Okoli, under the guise of exporting
44 20-foot containers of wood to China.

“The complainant did not receive the containers of wood which
the defendant obtained money for; he did not even pay back the said
money to the complainant.

“The defendant knew that the representation he made was false,”
Molo told Chief Magistrate Botoku.

According to him, the offences contravened Sections 287, 314 and
411 of the Criminal Law of Lagos State, 2015.