A 48-year-old Company Manager, Adeyemi Adenikinju, was on Thursday arraigned before an Iyaganku Chief Magistrates’ Court for allegedly defrauding and stealing his employer’s money and goods worth N7.1 million.
The defendant, of an undisclosed address, was arraigned by the police on a four-count of stealing, fraud and conversion.
The Prosecuting Counsel, ASP Tunji Olaniyan, told the court that defendant, between 2022 and Dec. 3, 2024, stole and fraudulently converted the sum of N3 million from his employer’s money to his own use.
Olaniyan said that the defendant also stole a chest freezer, a Scanfrost refrigerator and a 40-inch television, all valued at N493,000, from the company he was working with.
He said that the defendant, also on Nov. 28, 2024, obtained N3.7 million from Jaffis Merchandise Nigeria Limited under the pretence of buying stock and paying workers’ salary, which he knew to be false.
Olaniyan further stated that Adenikinju converted N3.7 million belonging to Jaffis Merchandise Nigeria Limited in Yemetu area of Ibadan to his own use.
The News Agency of Nigeria (NAN) reports that Jaffis Merchandise Nigeria Limited was represented in court by Sammy Olusanya.
According to the prosecutor, the offences are contrary to Section 383 and Punishable under Sections 390(6) and (9), and 419 of the Criminal Code Laws of Oyo State, 2000.
The defendant, however, pleaded not guilty to the charges.
The Presiding Magistrate, Mr M. Mudashiru, admitted the defendant to bail in the sum of N2 million, with two sureties in like sum.
Mudashiru said one of the sureties must be a blood relation to the defendant while the second must be a director of a company registered with Corporate Affairs Commission (CAC).
He, thereafter, adjourned the matter till April 16 for hearing.
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