Ikeja, Feb. 17, 2026(NAN) A 51-year old man, John-Kennedy Otagada, was on Tuesday arraigned before an Ikeja Magistrates’ Court, Lagos, over alleged theft of N85 million.
Otagada is facing a two-count charge of stealing and obtaining money under false pretense, to which he pleaded not guilty.
The Prosecutor, SP Josephine Ikayere, told the court that the defendant committed the offences at about 10.00a.m on March 10, 2025, in Ikeja, Lagos.
Ikayere said that the defendant obtained N85 million from Gidi Credit Ltd with the pretext of securing credit for himself through a representation he knew to be false.
The prosecutor said that the offences contravened Sections 287 and 314 of the Criminal Law of Lagos State, 2015.
The Magistrate, Mr L.A. Owolabi, admitted the defendant to bail in the sum of N3 million with two responsible sureties.
He adjourned the case until March 26, 2026, for further proceedings.(NAN)
