Court Remands Medical Doctor Over Alleged N13.5m Fraud | Independent Newspapers Limited
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Court Remands Medical Doctor Over Alleged N13.5m Fraud

Posted: May 20, 2015 at 2:39 am   /   by   /   comments (0)

By Judith Eshemitan – Lagos


An Ikeja High Court, presided over by Justice Oluwatoyin Ipaye, on Tuesday ordered that Obinna Monagor, a 62-year-old medical doctor, be remanded in prison over alleged fraudulent conversion of N13.5 million.

The defendant, who is a resident of D1, Alhaji Masha Road, Surulere, Lagos, was arraigned by the Economic and Financial Crimes Commission (EFCC) on a one-count charge of stealing by fraudulent conversion.

Justice Ipaye ordered Monago to be remanded in prison pending the perfection of the N5 million bail conditions granted him by the court.

Mr. Ademola Omeiza, EFCC’s counsel, said Monagor had sometime in 2010 approached the complainant, Mr. Godwin Achi, that he had a three-storey edifice, located at No.7, Tade Aromolate Close, William Estate, Surulere, Lagos, for sale.

Omeiza told the court that the property was offered to the complainant for N150 million, adding that the complainant paid a first instalment, but could not pay the balance following inability to obtain a credit facility from his bank.

The EFCC’s counsel further said Achi finally got the loan in 2012, but discovered that the said property had been sold to another party, Edscob Suites.

The prosecutor said that following the development, the complainant demanded that his initial deposit be repaid by Monagor which the defendant refused after one year of selling the property.

Omeiza said that investigation into the matter by the commission consequently led to Monagor’s arrest and the ongoing prosecution.

According to him, the defendant’s action contravenes Sections 390 (8) (b) and (9) of the Criminal Code Laws of Lagos State of Nigeria, 2003.

When the charge was read, Monagor pleaded not guilty.

Ruling on the bail application filed by his counsel, Dr. Muiz Banire, the judge granted the defendant bail in the sum of N5 million with two sureties in like sum.

Justice Ipaye directed that one of the sureties must be a blood relative while both should produce evidence of three years tax clearance payment to the Lagos State Government.

The matter was adjourned to June 24 for trial.