A Federal High Court in Lagos on Monday remanded a Nigerian Olakunle Bello Shola and a twin Indian-Canadian citizen, Santosh Singh, following their arraignment for alleged N100,075,000 fraud.
Justice Oluremi Oguntoyinbo made the order after Lakunle 31 and Santosh 43, pleaded not responsible to a one-count cost of acquiring by false pretence, most popular towards them by the Police Special Fraud Unit (PSFU) Ikoyi, Lagos.
She remanded the defendants within the Nigerian Correctional Services custody for ruling on their bail purposes on November 4.
The prosecutor, Mr. Sylvester Azuibuike, alleged that the defendants and one Vivek Bansal, now at giant, with intent to defraud, obtained N100,075 million from a financial institution, by their firm, Continental Logistics Ltd.
They deceived the financial institution that the cash could be used to obtain 240 metric tonnes of Sesame seed and 44.9 metric tonnes of cashew nuts, which had been to be saved at a warehouse in Kano State.
The court docket heard that the defendants allegedly falsely informed the financial institution the deal could be a tripartite settlement involving Continental Logistics Ltd, Thramaseed Inpex Ltd and the financial institution.
The offence, in keeping with the prosecutor, contravened Section 1(2) of the Advanced Fee Fraud and different associated Offences Act, 2006 and was punishable below Section 1(3) of the identical Act.
Following the defendants’ plea of not responsible, the prosecutor utilized for a trial date, whereas additionally praying the court docket to remand the defendants until the willpower of the cost towards them.
But the defence group led by Mr Olalekan Ojo (SAN) opposed him.
Ojo informed the decide that the defendants had filed bail purposes and similar had been served on the prosecution.
He prayed the court docket to listen to their purposes and admit the defendants to bail “in the most liberal terms.”
Justice Oguntoyinbo granted him depart to maneuver the purposes, however reserved ruling until November 4.
She fastened December 11, for graduation of trial.