3rd May, 2012
A Lagos businesswoman, Joy Obiageli Agbo, has been arraigned in a Tinubu magistrate court, southwest Nigeria, on a two- count criminal charge of conspiracy and fraudulent conversion of money.
According to the criminal charge number P/31/12 filed before the court by Superintendent of Police, Effiong Asuquo from the Special Fraud Unit, SFU, of the Nigeria Police Force, Milverton Road, Ikoyi, Lagos, Joy Obiageli Agbo, 60, while working in her capacity as Chairman as well as Executive Director of a limited liability company, Industrial Metal Processing Company Limited, IMPCO, on or about the month of April, 2011, conspired with one Ugo Njuere, male, a solicitor, acting as Impco’s Real Estate agent now at large, to commit felony to wit stealing and thereby committed an offence punishable under section 409 of the criminal code.
Asuquo alleged further that the accused businesswoman and Ugo Njere, a solicitor acting as IMPCO’s Real Estate agent on or about April, 2011 fraudulently converted to their own use, the sum of N14,015,200 property of IMPCO and thereby committed an offence under section 285 (8) of the criminal code laws of Lagos State, 2011.
The accused pleaded not guilty and her lawyer made an oral application for her bail.
In her ruling, the presiding magistrate, while adjourning the case till 23 May, granted the accused bail in the sum of N5 million with two sureties who must swear to affidavit of means.