A Lagos High Court sitting in Ikeja has remanded an accountant, Gbenga Oladeji in prison custody for allegedly converting the sum of N4.8 million, property of a company, Tanifeeds Nigeria Limited into personal use.
Justice Oluwatoyin Ipaye remanded the defendant in prison custody pending arguments for bail application.
The Economic and Financial Crimes Commission (EFCC) had arraigned Oladeji on a one count charge offence bordering on fraudulent conversion of funds of the company.
The charge against Oladeji stated in part: “that Oladeji, with intent to defraud, did allegedly steal and fraudulently converted the sum N4,800,000 property of Tanifeeds Nigeria Limited and thereby committed an offence contrary to sections 285(1) and (9) (b) of the criminal Laws of Lagos State of Nigeria, 2011”.
The defendant was alleged to have committed the offence between April 22 and June 15, 2013 at Lagos.
When the charge was read, the defendant pleaded not guilty to the one count charge offence preferred against him by the commission.
The prosecution, Mr. M.S Usman, requested the court to remand the defendant in prison custody in view of the not guilty plea of the defendant and pending commencement of trial.
Counsel to the defendant, Mr. O.K Onabayo, applied for bail for his client pointing out that the offence allegedly committed is a bailable one.
Meanwhile, counsel to the defendant’s surety, Mr. O.O Egbeyemi, prayed the court to disintegrate his client as surety to the defendant following his arraignment before the court.
Ruling on the matter, Justice Ipaye noted that the prosecution did not respond to the bail application for the defence and ordered him to prepare his defence to the application.
The trial judge ordered the defendant to be remanded in prison custody pending hearing of arguments on bail application and commencement of trial and adjourned the matter till November 16.