Businesswoman docked over alleged fraudulent loan

A businesswoman, Abosede Oluga, was on Wednesday docked at an Ogudu Magistrates’ Court in Lagos State, for allegedly obtaining N2 million loan through fraudulent means. Oluga, 46, whose address was not mentioned, was accused of fraudulently obtaining the loan from Davodani Micro-Finance Bank and issuing a dud cheque to the bank. She was also accused […]

A businesswoman, Abosede Oluga, was on Wednesday docked at an Ogudu Magistrates’ Court in Lagos State, for allegedly obtaining N2 million loan through fraudulent means.

Oluga, 46, whose address was not mentioned, was accused of fraudulently obtaining the loan from Davodani Micro-Finance Bank and issuing a dud cheque to the bank.

She was also accused of falsely pretending to divert ownership of her Toyota Corolla to the bank as security to the loan facility.

The businesswoman was also accused of issuing a dud Ecobank cheque and falsely pretending to have money in her Ecobank account prior to the issuance of the cheque.

The defendant, however, pleaded not guilty.

The prosecutor, Sgt. Lucky Ihiehie, told court that the offences were committed between December 2018 and April 2019 on Ogudu Road in Ojota, Lagos.

Ihiehie said that the complainant, Davodani Microfinance Bank, submitted a petition against the defendant to the State Intelligence Bureau, Area H Command in Ogudu.

“Sometime in December 2018 and January 2019, the defendant obtained a personal loan of N2 million on the pretext of transferring a Toyota Camry to facilitate the loan.

“On April 8, the defendant issued an Ecobank cheque of N1,710,000 which, when presented to the bank, was dishonoured on grounds of insufficient funds.

” All efforts made by the bank to recover the money proved abortive.

The prosecutor noted that the of offences contravened Sections 315 and 321 and of the Criminal Law of Lagos State, 2015, and punishable under Section 314 of the law.

The Magistrate, Mrs Ejiro. Kubeinje, admitted the defendant to bail in the sum of N500, 000 with two sureties.

She said that both sureties must be taxpayers from reputable organisations.

The case was adjourned until July 2 for mention. (NAN)