An Egba High Chief and businessman, Chief Abiodun Ajayi, was Tuesday, arraigned before a Chief Magistrate Court sitting at Abeokuta, the Ogun State capital for allegedly defrauding Alarab Properties, a subsidiary of Obasanjo Holdings Limited (OHL), of the sum of N105m.
Ajayi, who is the Balogun of Ijemo land in Egbaland was arraigned on a three-count charge bordering on forgery, fraud and stealing.
When the case came up on Tuesday morning in suit number MA\606\c\2016), the Police Prosecutor, Sunday Eigbejiale, said the accused fraudulently forged Sidipon Community Power of Attorney and fraudulently used same to obtain the sum of N105m from Alarab Properties in a transaction involving the sale of 67acres of land at the Sidipon village.
The charge reads in part:”that you Salimon Abiodun Ajayi on the same date, time and place in the aforementioned Magistrate District with intent to defraud did obtained the sum of N105m property of Alarab a subsidiary of Obasanjo Holdings Limited with pretext that you are in position to sell 67acres of land to Alarab Properties, a subsidiary of Obasanjo Holdings Limited and thereby committed an offense contrary to and punishable under Section 419 revised law of Ogun state 2004.”
Ajayi who is also a petroleum products dealer, however, pleaded not guilty to the charges proffered against him.
His counsel, Mr Akolade Afolabi, urged the court to admit his client to bail in line with constitutional provision, since the offence carries no capital punishment.
Citing section 36 sub(5) of Nigerian constitution as amended, Afolabi who argued that an accused is presumed innocent until proven guilty, said the purpose of bail is to secure the presence of the accused in court to face trial and not to punish him.
He assured that the accused would not abuse the bail if granted.
But ruling on the bail application, the Presiding Chief Magistrate, Magistrate Oriyomi Sofowora, admitted the accused to bail in the sum N250, 000.00 with two sureties in the like sum.
The Magistrate thereafter adjoined the case till December 20, 2016.
