Balogun Market Leader Docked Over N30m EcoBank Fraud

CYRIACUS IZUEKWE

The chairman of Kaduna Cluster of the Balogun Business Association, BBA, at Trade Fair Complex, Ojo, Lagos, Celestine Nji has been arrested and charged before Apapa Magistrates’ court for his alleged involvement in the conspiracy and fraud perpetrated at a Ecobank Plc branch to the tune of N30 million in Lagos.                                                                      

P.M.EXPRESS gathered that Enugu State-born Nji allegedly conspired with one Henry Chukwu of the Visible and Trust Investment, now at large, and tendered fake documents to the bank as collateral for a loan from the bank.

It was learnt that after obtaining the cash, the beneficiary of the loan absconded with the money.

Our correspondent gathered that Nji allegedly played key role in facilitating the loan by issuing forged letter of credence as the Chairman of the market and sent it to the bank.

When it was time for the money to be paid back, the beneficiary was not forthcoming and later disappeared.

The bank later looked at the documents submitted by the loan beneficiary and guarantor properly and discovered they were fake.

Nji was arrested and charged to court for the alleged offence, while his accomplice, Chukwu was still at large.

He however pleaded not guilty.

The prosecutor, Inspector Tony Elibe did not object to his bail but asked the court to give the bail that will enable the defendant to come to court to face trial in the interest of justice.

The presiding Magistrate, Mr T. Abolarinwa granted Nji bail in the sum of N1 million with two sureties in like sum.

He was remanded in prison custody pending when he will perfect his bail.

The matter was adjourned till 17 May 2017.