EFCC Arraigns Businessman Over Alleged N70m Fraud
By Felix Kuyinu
A businessman, Ntai Bagshaw, has been arraigned by the Economic and Finacial Crimes Commission, EFCC, over an alleged fraudulent activity amounting N70,000,000.
At the High Court in Ikeja, Lagos where the suspect Ntia was arraigned on a two-count-charge of obtaining money under false pretence and stealing, the Commission submitted that the accused commited the act sometime in December 2021 in Lagos.
The prosecution disclosed that Ntia alongside his company, Terraworks Limited, collected the sum under the false pretense that the money is for the payment of a detached Duplex in Renat Axis, located at Ogudu GRA in Lagos.
In charge one, the Commission stated, “That you Ntai Bagshow and Terraworks Limited sometime in December 2021 at Lagos within the Ikeja Judicial Division with intent to defraud obtained from Muyiwa Makinde the sum of N70,000,000.00 (Seventy Million Naira) under the false pretense that the money is for the payment of a detached Duplex in Renat Axis, located at Ogudu GRA, Lagos State which pretence you knew to be false”.
Count two reads: “That you Ntai Bagshow and Terraworks Limited sometime in December 2021 at Lagos within the jurisdiction of this Honourable Court dishonestly converted to your own use the sum of N70,000,000.00 (Seventy Million Naira) being payment for Detached Duplex located at Ogudu GRA, Lagos State.”
Following a guilty plea by the defendant, the prosecution asked the court for a trial date and prayed that the accused be remanded in a correctional center.
In response, Justice Ishmail ordered Ntia be remanded. He adjourned the matter till May 13 for the hearing of the bail application and commencement of trial.
