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Financial News

“₦5.05m Obtained Under Pretext Of Mini Self-Contained Apartments” — Agent Arraigned For Defrauding Four Accommodation Seekers

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A 45-year-old man, Michael Okugbowa, was on Thursday arraigned before an Ikorodu Chief Magistrates’ Court in Lagos for allegedly defrauding several accommodation seekers of ₦5.05 million.

The defendant, whose address was not provided, is facing a four-count charge bordering on obtaining money under false pretences. He, however, pleaded not guilty to the charges.

According to the prosecutor, ASP Aminu Isaac, the defendant committed the offences on September 9 at about 10:30 a.m. at Bola Kazeem Estate, Owode Onirin, Ikorodu Road, Lagos.

Isaac alleged that Okugbowa fraudulently obtained ₦1.15 million from one Mr. Godwin Uzor under the pretext of securing a mini self-contained apartment but converted the money to his personal use.

The prosecutor further told the court that on October 15, the defendant collected ₦900,000 from Mr. Benjamin Igba, ₦1.2 million from Mr. Akinlade Temitope, and ₦800,000 from Mr. Ebuka, also under the guise of providing mini-flats for rent.

He said the offences contravened Section 314(1)(a) of the Criminal Law of Lagos State, 2015, which prescribes penalties for obtaining money under false pretence.

Magistrate B. A. Sonuga granted the defendant bail in the sum of ₦1 million with two sureties in like sum.

The court further ordered that one of the sureties must be a civil servant not below Grade Level 16, with a letter of confirmation from the Head of Civil Service, and provide evidence of three years’ tax clearance.

The case was adjourned until December 4, 2025, for mention.