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Financial News

Court Orders Man To Pay ₦500,000 Restitution Before Granting Bail In N2m Ekiti Property Fraud Case

An estate along Airport Road in Abuja

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A 30-year-old man, Ayodeji Ayeni, was on Thursday brought before an Ado-Ekiti Chief agistrates’ Court over alleged N2 million fraud.

The defendant, whose address was not given, is facing a two-count charge of fraud and impersonation.

The prosecutor, Inspector Akinwale Oriyomi, told the court that the defendant committed the offences on November 28, 2024 at Olorunda Zone 1 in Ado-Ekiti, Ekiti State.

Mr Oriyomi alleged that the defendant obtained the sum of N2 million from the complainant, Balogun Ismaila, on the pretext of selling an uncompleted building to him.

He also alleged that the defendant claimed to be an estate agent, which was later discovered to be false claim.

According to him, the offences contravene Sections 329(1)(a) and 391(1) of the Criminal Law of Ekiti State, 2021.

The prosecutor urged the court to adjourn the case to enable him study the case file and assemble his witnesses.

The defendant, however, pleaded not guilty to the charge preferred against him.

Counsel to the defendant, Olasoji Oladele, urged the court to grant the defendant bail, with a promise that he would not jump bail.

The Chief Magistrate, Abayomi Adeosun, ruled that the defendant should pay the sum of N500,000 to the nominal complainant, and provide two sureties in like sum on the adjourned date.

Mr Adeosun adjourned the case until March 10 for hearing.(NAN)

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