A manager of a recycling company, Afeez Tijani, 43, on Wednesday appeared before an Iyaganku Magistrates’ Court, Ibadan, over alleged N1 million fraud.
Tijani, who waas charged with obtaining money under false pretences and stealing, pleaded not guilty.
The Prosecutor, ASP Anthony Igori told the court that the defendant allegedly committed the offences between March and May at Rapha Poly Recycling Company, Ibadan,
He said that the defendant obtained N1,070,000 from the company under the pretext of supplying Viju milk waste materials, but failed to do so.
Igori said that the defendant rather used the money for online trading.
The prosecutor said that the offences contravened Sections 419 and 390(9) of the Criminal Laws of Oyo State, 2000.
The Magistrate, Mrs Grace Daodu granted the defendant bail in the sum of N5 million and with two sureties in like sum.
Daodu said that one of the sureties must have landed property within the court’s jurisdiction, and a balance of N2 million in his bank account.
She thereafter adjourned the case until July 18, for hearing.