The Economic and Financial Crimes Commission (EFCC) on Thursday arraigned a businesswoman, Adekemi Folorunsho, before an Ikeja Special Offences Court for allegedly defrauding a woman of $700,000 and N190 million.
The defendant, who presented herself as a bureau de change operator, was arraigned on a three-count charge of obtaining by false pretence, conspiracy and stealing.
The defendant, however, pleaded not guilty to the charge.
EFCC counsel, Ms Nanbam Mutfwang, urged the court to adjourn the case for commencement of trial.
Earlier, Mutfwang, told the court that the defendant, along with Ikechukwu Ibe and others still at large committed the offences in October 2021 and March 2023 in Lagos.
The commission stated that the defendant dishonestly converted to her personal use, the sum of N190 million, belonging to the complainant, Mrs Osolake Ayodele.
The prosecutor said the defendant obtained another $700,000 from the complainant under the pretext that she was a foreign exchange broker who could exchange dollars for the naira equivalent.
She said the defendant failed to exchange the foreign currency for naira, instead converted it to her personal use.
According to the prosecution, the alleged offences contravene Section 1(3) and 8(a) of the Advanced Fee Fraud and Other Related Offences Act, and Section 285(1) of the Criminal Laws of Lagos State, 2011.
The defence counsel, Mr Shina Makinde, moved a motion for bail, urging the court to grant bail to the defendant on liberal terms.
Makinde assured the court that his client was ready to face trial without delay.
He noted that the defendant had honoured administrative bail granted by the anti-graft agency.
The prosecution did not object to the bail application, leaving it to the court’s discretion.
Justice Olubunmi Abike-Fadipe subsequently granted bail to the defendant in the sum of N50 million with two sureties in like sum.
Abike-Fadipe ruled that the defendant must perfect her bail within two weeks, adding that failure to do so would result in her remand at a correctional facility.
The judge adjourned the case until Oct. 9 for commencement of trial.
