Man, 42, Arraigned For Allegedly Obtaining N8m From Microfinance Bank Under False Pretence In Lagos

Odumegwu was arraigned on a three-count charge bordering on obtaining credit under false pretence, stealing and issuance of dud cheque, preferred against him by the Commissioner of Police.

According to the charge sheet marked Charge No. 12026, with the case titled Commissioner of Police vs Ugochukwu Richard Odumegwu, the defendant allegedly committed the offences at Asha Micro Finance Bank Limited, Ikeja, Lagos, within the Ikeja Magisterial District.

Police alleged in Count One that on the 19th day of August 2026, at Asha Micro Finance Bank Limited, Ikeja, the defendant under the pretence of paying back within few months, obtained credit sum of Eight Million Naira Only (N8,000,000.00), a presentation he knew to be false.

The offence, according to the prosecution, is contrary to and punishable under Section 315 (1a&b) of the Criminal Law of Lagos State, 2015.

In Count Two, the police alleged that on the same date, time and place, the defendant allegedly stole the sum of Eight Million Naira, property of Asha Micro Finance Bank Limited, Ikeja. The offence is said to be contrary to and punishable under Section 287 of the Criminal Law of Lagos State, 2015.

Count Three alleges that on November 21, 2025, within the same magisterial district, the defendant allegedly issued a Fidelity Bank Plc cheque in the name of Ugodum International Limited for the sum of Two Hundred Thousand Naira (N200,000.00) to Asha Micro Finance Bank, which was dishonoured on presentation due to insufficient funds in the account.

The offence is contrary to and punishable under Section 322 of the Criminal Law of Lagos State, 2015.

The defendant was arraigned before Magistrate L.A Owolabi at the Ikeja Magistrate Court. The prosecutor in the case is SP Josephine Ikhayere.

When the charges were read to him, the defendant pleaded not guilty to all the counts.

Following his not guilty plea, the Magistrate granted him bail with two sureties who must show evidence of means of livelihood and evidence of tax payment.

The court ordered that the defendant be remanded at the Correctional Center, Kirikiri Town, Lagos, pending when he will perfect his bail conditions.

The matter was adjourned for further hearing.

The court has not yet made any finding of guilt against the defendant. The defendant is presumed innocent until proven guilty by a court of competent jurisdiction, as provided under the 1999 Constitution of the Federal Republic of Nigeria (as amended).