President of Ladipo Market charged for N52m fraud


(Nigeria) President of Aguiyi Ironsi Market, popularly known as Ladipo Market in Mushin area of Lagos State, Mr Jonathan Okoli, was, Monday, charged before a Lagos High Court sitting in Ikeja for alleged N52 milion fraud.
Okoli, charged on a three-count by  Economic and Financial Crimes Commission, EFCC, was accused of obtaining money by false pretences and stealing.
The matter is before Justice Olabisi Akinlade.
The defendant was alleged to have collected the of N52 million from members of Aguiyi Ironsi International Market Traders Union between 2009 and 2010, money entrusted into the care of Okoli for the payment of Trade Permits and Auto Dealers fees by members of the association.
Okoli pleaded not guilty to the charges.
Okoli was said to have diverted the money to his personal use and failed to remit the payments to the Lagos State Government and Mushin Local Government Area, the offence, which was alleged contravened Sections 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006 and 390(8) (b) and (9) of the Criminal Code Laws of Lagos State of Nigeria 2003.
Okoli, was ordered remanded in Ikoyi Prison, Lagos, pending the hearing of his bail, while the court adjourned till May 16, to hear his bail application.

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