Lagos State Chief Magistrate Court has ordered the remand of a businesswoman, Ruth Iwegue, in prison custody pending the perfection of her bail conditions.
Iwegue was arraigned before the Chief Magistrate Adeola Olatunbosun of Yaba Chief Magistrates’ Court by the Nigeria Police on five counts charge which borders on fraud, unlawful conversion, and burgling of a financial account.
According to the Police, Ruth Iwegue allegedly defrauded Marchant Flutterwave Technologies Solution Limited of over N2.8bn.
She was said to have received a total sum of N821.3m transferred to her two accounts.
The police prosecutor attached to the State Criminal Investigation Department, A. O. Nwabuisi, told the court that the defendant, along with her accomplices, logged into the financial portals of the firm and transferred the amount to their accounts.
He said the offences contravened and are punishable under Sections 314 and 328 of the Criminal Law of Lagos State, 2015, and Sections 8(a), 1(1) of the Advance Fee Fraud and Other Related Offences Act 2006.
The defendant, however, pleaded not guilty to the charges preferred against her.
The defence counsel, Divine Chiefuna, prayed the court to grant the defendant bail in the most liberal term.
The magistrate, therefore, admitted the defendant to bail in the sum of N20m with two responsible sureties in like sum.
Magistrate Olatunbosun also adjourned the case till July 31, 2023.
