Lagos: Police arraign marketer over N9.2m fraud
Yejide Gbenga-Ogundare, Lagos
Thursday, January 7, 2010
A man identified as Alimi Saheed has been arraigned before a Lagos State Magistrate Court sitting in Ikeja by the police for defrauding customers of Royal Exchange Plc, a company where he works as marketer. He was said to have defrauded the company up to the tune of N9.252million.





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Saheed was arraigned before Magistrate Olabisi Adedayo on a two-count charge of stealing and fraudulent conversion.

According to the police prosecutor, Chris Takum, the offence contravened Section 383(1) and is punishable under Section 390 (9) of the Criminal Code Cap C17 Vol. II Laws of Lagos State of Nigeria, 2003.

After the charges were read, Alimi pleaded not guilty to the charges and prayed the court for bail in liberal terms.

Part of the charge read: “That you Alimi Saheed a marketer with Royal Exchange Plc in Oshodi between October –December 2009 collected N9,252million from the customers/client and refused to remit same to the company while you fraudulently converted same to your personal use, an offence contrary to section 383 (1) and punishable under section 390 (9) of the criminal code Act, Cap C17, Vol II Laws of Lagos State of Nigeria, 2003.”

Subsequently, Magistrate Adedayo granted him bail in the sum of N500, 000 with two sureties in like sum.

She also ordered that the sureties must show evidence of gainful employment while their residences must be verified by the court registrar.

The case was, however, adjourned till January 25, 2010 for trial.