A trader, Chukwudi Nzeribe who allegedly absconded with his colleague’s N140,000 savings, on Tuesday appeared before an Ikeja Magistrates’ Court in Lagos.
Nzeribe, 33, a resident of No.12, Adekitan St., Mushin, Lagos, is being tried for fraud and stealing.
The prosecutor, Insp. Victor Eruada told the court that the accused committed the offences sometime in October 2015 at Ladipo Street, Mushin, Lagos.
Eruada said that the accused bolted with N140,000 belonging to one Chibuke Ibabuchi, under the pretext of a contributory scheme.
The prosecutor said that the accused approached the complainant that they should be contributing money in order to promote their businesses.
“The accused told the complainant that the two of them should be contributing N140,000 each on a monthly basis and that he would be the first to take the money.
“At the end of that month, the accused went to collect the complainant’s part of the ‘contribution’ and then absconded.
“All efforts by the complainant to retrieve his money proved unsuccessful as the accused had stopped coming to his shop because he had rented it out to another tenant.
“The accused was later arrested after five months of his disappearance,’’ he said.
According to Eruada, the offences contravened Sections 285 and 312 of the Criminal Law of Lagos State, 2011.
Section 312 provides that if convicted of the offenses, the accused is liable to 15-year imprisonment.
The accused pleaded innocence of the offences and was granted bail in the sum of N50,000, with two sureties in like sum.
The Magistrate, Mrs F.A Azeez, adjourned the case to April 7 for mention. (NAN)