Micro Finance Bank drags 2 loan defaulters to court

Paul Iyoghojie

The Management of Addosser Micro Finance Bank, Lagos Island, Lagos has dragged two alleged loan defaulters before a Lagos Magistrate’s Court for obtaining a credit facility of N1.8m by false pretence and refused to refund the money as agreed.

The alleged defaulters are: Samson Agboola Olarewaju, 43 and Adebayo Ajiboye.

A police source alleged that the Assistant Inspector Commissioner of Police, ACP in charge of Area A Command, Lagos Island, directed a team led by Inspector Toluwalase Odiyeye to arrest the accused persons following a petition by the Management of Addosser Micro Finance Bank PLC.

The accused persons were charged before an Igbosere Magistrate Court on a four count charged of felony to wit, Obtaining Credit facility by false pretense and forgery.

Police Counsel, Friday Mameh informed the court in charge No Q/45/2018 that the accused committed the alleged offence on 22 January, 2018 at Addosser Micro Finance Bank PLC at 32_Lewis Street, Lagos Island.

Mameh told the court that the accused persons falsely obtained the sum of N1.8m as loan from the complainant to boost their businesses with an agreement to repay back at an agreed time, but that the accused refused to refund the money as agreed.

He said the accused persons on the pretext of paying back the money issued an FCMB cheque with No 26659121 in the sum of N2,301,806 to the complainant for the repayment of the loan, but that when the cheque was presented at the bank for payment, it wad rejected due to lack of money in the accused persons account.

Mameh saud the offences committed were punishable under sections 411, 314, 321(b) and 287 of the Criminal laws of Lagos State, 2015.

The accused persons, however, pleaded not guilty to the alleged crime in the open court and Magistrate T.A Idowu granted them bail in the sum of N250,000 each with two sureties each in like sum who must have proof of tax payment to the Lagos State Government.

Idowu ordered that the defendants be kept at the Ikoyi Prison, Lagos till they perfected the bail conditions and adjourned the case till 7 August, 2018 for mention.