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Nigerian And Canadian Man Remanded For N100m Fraud (Photo)




A Federal High Court in Lagos on Monday remanded a Nigerian Olakunle Bello Shola and a dual Indian-Canadian citizen, Santosh Singh, following their arraignment for alleged N100,075,000 fraud.

Justice Oluremi Oguntoyinbo made the order after Lakunle 31 and Santosh 43, pleaded not guilty to a one-count charge of obtaining by false pretence, preferred against them by the Police Special Fraud Unit (PSFU) Ikoyi, Lagos.

She remanded the defendants in the Nigerian Correctional Services custody for ruling on their bail applications on November 4.

The prosecutor, Mr. Sylvester Azuibuike, alleged that the defendants and one Vivek Bansal, now at large, with intent to defraud, obtained N100,075 million from a bank, through their company, Continental Logistics Ltd.

They deceived the bank that the money would be used to procure 240 metric tonnes of Sesame seed and 44.9 metric tonnes of cashew nuts, which were to be stored at a warehouse in Kano State.

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