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Lagos Businessman Granted N30m Bail In Alleged N10m Fraud

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By Mohammed Adekola

In a dramatic legal twist, a Lagos-based businessman, Lanre Smith, has been granted a N30 million bail by a Federal High Court over allegations of a N10 million fraud

Amidst legal maneuvers, Justice Ibrahim Kala approved the bail following a fervent plea from Smith’s legal representative, Akin Apara, emphasizing the presumption of innocence until proven guilty.

The court mandated two sureties, one of Grade Level 14 in a government institution and another a property owner within the court’s jurisdiction, to secure Smith’s release.

As the bail drama unfolded, the trial commenced swiftly, with the prosecution counsel, Mike Enejere, calling forth the first witness, Stephen Ogunlola, from the Interpol Section of Force CID Annex, Alagbon.

Ogunlola’s testimony revealed intricate details of a foreign transaction entangled in the case, shedding light on the alleged financial irregularities.

In a strategic defense move, Apara countered Ogunlola’s testimony with evidence from a previous case involving another individual, suggesting inconsistencies in the prosecution’s narrative.

The accused, Smith, founder of Grocedy Limited, vehemently denied the charges, setting the stage for a prolonged legal battle.
With the next trial date set for March 24, the courtroom saga promises riveting developments as the case unfolds.