Lagos Businessman Lands In Prison For Alleged N50m Fraud

BY PAUL IYOGHOJIE

A 58 year-old businessman, Philip Balogun has been arrested by the operatives of the Nigeria Police Zone 2 Command, Onikan, Lagos and dragged before a Lagos Magistrate’s Court for allegedly fraudulently obtaining the sum of N50 million from the complainant, Akinola Suraju by false pretence.

Police alleged that the defendant allegedly collected the money from the complainant through his  Company, Nawag Global  Enterprises with the promise of using the money to purchase a truck for him, but that the defendant instead converted the money to his use and failed to provide the truck for the complainant ,switched off  his phones and fled.

Police further alleged that when all efforts by the complainant to reach the defendant was not successful, he petitioned the Assistant Inspector General of Police, AIG incharge of Zone Command, Lagos, AIG Adegoke Fayoade who directed his crack team to fish out the fleeing defendant.

The Police team arrested the defendant at a hideout in Lagos through intelligence gathering and tracking.

After investigation by Inspector Love Amini and his team, the defendant was charged before the Igbosere Magistrate’s Court sitting at the Tinubu Magistrate’s Court on a three-count charge bordering on obtaining money by false pretence and stealing.

Police prosecuting Counsel, DSP Francis Igbinosa informed the court in the charged marked A/13/2025 that the defendant committed the offence on 28 December, 2023 at Block 211, Flat 1, Amuwo Odofin Housing Estate, Lagos.

Igbinosa told the Court that the defendant tricked the complainant and collected the N50 million from him to purchase a truck for him but the defendant converted the money to his use and fled before he was tracked and arrested at a hideout in Lagos.

He said the offences, the defendant committed were punishable under sections 411,314(a) and 287 of the Criminal Law of Lagos State, 2015.

The defendant, however pleaded not guilty to the charges and Chief Magistrate, O.O Olatunji granted him bail, adjourned the case till 19 March, 2025 and ordered that the defendant be kept at the Ikoyi Correctional Facility till he perfected the bail conditions.