A 65-year-old man and five others, have been arraigned before an Ikeja magistrate court, for allegedly stealing the sum of N7million, belonging to Freedom Merchant Market Association.
The defendants are Sylvester Umeaku, 54, Stella Anumaka, 40, Godwin Nwankwo, 52, Emmanuel Ikeahugo, 58, Igwegbe Emmanuel, 65 and Anakwenze Pauline, 54.
When the charge was read to the defendants, they pleaded not guilty to the two- count charge of conspiracy and fraud, before Magistrate O.A. Okunuga.
The defendants were said to have committed the alleged offence on June 14, 2012, at 9/11, Awodi Ora Estate area of Lagos.
The defendants were alleged to have fraudulently converted the said sum, property of Freedom Merchant Market Association, into their own use.
According to the police prosecutor, Inspector Barth Nwaokaye, “the offence committed is punishable under section 409, 284 and 285 of the criminal laws of Lagos State of Nigeria 2011.”
However, Magistrate Okunuga granted the defendants bail in the sum of N1million each with two sureties, who must be resident in Lagos and show evidence of tax payment for three years.
Okunuga adjourned the case to February 27, 2013, for trial.