A 47-year-old businessman, Ma'aru Usman, was on Tuesday arraigned before a Lagos High Court in Ikeja by the EFCC for alleged N19 million fraud.
The defendant, who resides at No. 27, Adetan Adebayo St., Power Time Line, Somolu, Gbagada, Lagos, is facing a one-count charge of stealing by fraudulent conversion.
Counsel to the EFCC, Mr M.K. Bashiru, alleged that the accused had, in November 2011, in Lagos, fraudulently converted N19 million which was entrusted in his care to his personal use. Bashiru said the money was entrusted to the accused by one Alhaji Akeem Badiru.
He said the offence contravened Section 285 (9) of the Criminal Laws of Lagos State, 2011. Usman, however, pleaded not guilty to the charge. The Judge, Lateefat Okunno, ordered him to be remanded in prison pending the hearing of his bail application fixed for Jan. 28.