30th October, 2021
By Paul Iyoghojie
A Bureau de Change agent (BDC), Bala Yaro has been charged before a Lagos Magistrate’s Court for allegedly obtaining the sum of £6,900 equivalent to N5, 175,000 from a business woman, Evelyn Morakiayo Olokun under false pretence.
Police alleged that Yaro allegedly collected the currency from the complainant with the pretext of helping her to change it to naira equipment, but instead he allegedly converted the money to his use and escaped.
Yaro, a resident of Bajulaiye Street, Mile 12, Lagos from Katsina State was charged before the Igbosere Magistrate’s Court sitting at the Tinubu Magistrate’s Court, Lagos Island on a two-count charge of obtaining money under false pretence and stealing.
Police counsel, Benjamin Ekundayo informed the count that the defendant committed the offence in April, 2021 in Lagos.
Ekundayo told the court that the complainant reported to the police that she trusted the defendant as a long time business associate and gave him the sum of £6, 900 to help her change it to naira equivalent but that the defendant betrayed the trust she had on him and converted the money to his personal use and escaped since April, 2021.
Ekundayo further told the court that it took the police about seven months to track and arrest the defendant, adding that the offences committed were punishable under sections 314 and 281 of the Criminal Law of Lagos State, 2015.
Yaro, however, pleaded not guilty to the alleged offence and Magistrate, A.O .Alogba granted him bail in the sum of N500, 000 with two sureties in like sum.
Alogba adjourned the case till November 15 for trial and ordered that the defendant be kept at the Ikoyi correctional facility till he perfected the bail conditions.