A 43-year-old businessman, Olawale Hamzat, was on Monday docked in an Ogudu Magistrates’ Court in Lagos State for allegedly stealing N6.7m from a thrift and credit society.
The defendant, whose address was given as Oke-eri, Oworoshoki, in Lagos, is charged with two counts of conspiracy and theft.
He, however, pleaded not guilty to the charge.
The Prosecution Counsel, Insp Bassey Sunday, told the court that the defendant committed the offence in December 2022 at Oluwafere Street, Bariga, Lagos.
Sunday said on Sept. 9, a letter of petition was filed at the area ‘H’ command by Oluwadunmininu Group of Co-operatives Thrift and Credit Union Ltd against the executive members of the association.
He said that the association submitted the petition against the defendant who is the chairman of the said co-operative, an affiliate of Oyosowapo co-operative Ltd for the abuse of power, breach of trust and embezzlement to the tune of N6. 7 million.
After the annual auditing of 2022, the police said, it was discovered that N6. 7 million was missing from the society’s account.
The prosecutor said that the offence is punishable under sections 287 and 411 of the Criminal Law of Lagos State, 2015.
Magistrate O.A. Daodu admitted the defendant to bail in the sum of N500, 000, with two reliable sureties in like sum.
Daodu said that the sureties must show evidence of two years’ tax payment to Lagos State Government.
She adjourned the case until November 6 for hearing.
NAN
