Ibadan, Feb. 25, 2026 (NAN) A businessman, Blessing Abegunde, was on Wednesday arraigned before a Federal High Court in Ibadan over an alleged N2.5 million fraud.
The Economic and Financial Crimes Commission (EFCC) instituted a three-count charge bordering on fraud and making false statements against Abegunde.
He pleaded not guilty to the charges.
Earlier, the EFCC prosecutor, Mr S. Adamu, told the court that Abegunde committed the offences on April 21 and April 25, 2024, in Ibadan, Oyo State.
Adamu said the defendant falsely claimed that Smart Global Services Ltd., which he represented, was an international company.
He added that Abegunde used the alleged fake company to fraudulently obtain N2.5 million from one Olalekan Olayiwola during a business transaction.
The defense counsel, Mr T.A. Abdulwahab, prayed the court to grant bail to his client on liberal terms.
The judge, Justice Nkeonye Maha, admitted the defendant to bail in the sum of N2 million with two reliable sureties in like sum.
Maha said that one of the sureties must own landed property within the jurisdiction of the court and that the bail conditions must be fulfilled within eight days.
She adjourned the case until April 26 for trial. (NAN)
