Lagos Businessman Sent To Prison Over Alleged N600m Scam

A Lagos-based businessman, Babatunde Ayantunji, 48, has been arrested and arraigned before a Lagos Magistrate Court for allegedly conniving with others still at large to obtain the sum of $2 million from a complainant, Abubakar Mukaila with the promise to convert it for him in Naira equivalent of N600million.

The accused was charged before an Igbosere Magistrate Court, Lagos on a three-count charge of felony to wit obtaining money under false pretence and stealing.

Police Prosecutor, Abass Abayomi informed the Court in charge No C/80/2017 that the accused and others still at large committed the alleged offence on July 2017 in Ogba area of Lagos State.

Abayomi told the Court that the complainant reported to the Police that the accused introduced himself to him as a foreign exchange operator and he then entrusted the sum of $2million to him on trust to help him exchange into an equivalent of N600 million.

He said Mukaila stated that after Ayantunji, the accused received the foreign currencies from an American Bank account with No 89808755419, he instead converted the money to his own use and failed to provide the naira equivalent to him till date.

Abayomi said that the complainant further stated that he reported the matter to the Police when all his efforts to retrieve his money from the accused proved futile.

The accused was arrested on the order of the Assistant Inspector General of Police, AIG in charge of Zone 2 Command, Onikan Lagos, Adamu Ibrahim following a petition by Abubakar Mukaila.

He said that the offences the accused committed were punishable under sections 411, 314 and 287 of the Criminal Laws of Lagos State, 2015.

Ayantunji, however, pleaded not guilty to the alleged crime in the open Court and Chief Magistrate A.O. Komolafe granted him bail in the sum of N50 million with two sureties in like sum who must own landed properties in Lagos.

Komolafe also directed that the sureties must deposit their international passports with the court and adjourned the case till 9 January, 2017 for mention.

The Magistrate then ordered that the accused be remanded at Ikoyi prison until he is able to fulfill the bail conditions.