Man Bolts With Bank’s N16m Loan

A 41-year old man, Audu Abdulrahman has been arrested and charged before a Magistrate court sitting in Ejigbo for allegedly defrauding a micro-finance bank N16m under false pretence in Lagos State Western Nigeria.

The court ordered him to be remanded in prison custody at Kirikiri, Lagos.

The suspect allegedly approached the bank called Seedvest Limited located at Okota area for a loan. He reportedly forged documents of two Trucks, with registration numbers, XZ 567 KTU and XY 400 AGL as the owner and applied for the loan.

According to police, Audu convinced the bank and told the mangement that he needed the money to finance a contract he was given by Holab Maritime Service and the bank gave him the loan.

After collecting the money, he ran away and the bank could not trace him. The matter was reported to the police who later arrested him at his hide out.

He was charged to court for the alleged offence ranging from forgery, obtaining and stealing under the Criminal Code.

When he was arraigned, he pleaded not guilty. The presiding Magistrate, Mrs M.B. Folami granted him bail in the sum of N6m with two sureties in like sum.

He was remanded in prison custody pending when he will fullfill his bail condition.

The matter was further adjourned till 27 October 2014.