Abuja, Jan.13, 2026 (NAN) A businessman, Bayonle Omoyele, on Tuesday appeared before a Chief Magistrates’ Court, Wuse, Abuja, over alleged criminal breach of trust.
Omoyele was charged with criminal breach of trust, cheating, misappropriation and false personation.
He, however, pleaded not guilty to the charges leveled against him.
The prosecutor, Samuel Emmanuel, told the court that the complainant, Mr Akor Otobo reported the matter to the police on Jan.23, 2025.
Emmanuel said that the complainant collected a N5 million loan from the defendant’s company, Reliance Thrift and Credit Cooperative Society Ltd., sometime in March 2021.
He said that the complainant used his Toyota Avensis 2015 model and Kia Rio cars as collateral for the loan.
The prosecutor however alleged that the defendant sold the cars unilaterally below the market value in violation of his agreement with the complainant.
He also alleged that the defendant aided the person who bought the Toyota Avensis car to impersonate the complainant which enabled him to change the ownership of the car documents.
He said that the original documents are still in the complainant’s possession.
Emmanuel said that the offence contravened Sections 312, 320, 309 and 179 of the Penal Code.
The Magistrate, Fareeda Ibrahim, granted the defendant N3 million bail with two reliable sureties resident within the court’s jurisdiction.
Ibrahim ordered that the sureties should enter an undertaking to produce the defendant for his trial.
He adjourned the matter until Feb.12, for hearing.(NAN)
