Ibadan, March 6, 2026 nan A 60-year-old man, Waheed Adeboye, was on Friday arraigned before a Mapo Grade A Customary Court in Ibadan over alleged unlawful conversion and N400,000 fraud.
Adeboye, however, pleaded not guilty to the two-count charge of false pretense and unlawful conversion of money preferred against him.
Consequently, the court’s President, Mrs O.E. Owoseni, granted the defendant bail in the sum of N200,000, with two reliable sureties in like sum.
Owoseni said that one of the sureties must be a yam seller while the other must provide evidence of possessing Ibadan Electricity Distribution Company (IBEDC) receipt and valid identification number.
She, subsequently, adjourned the case till May 7 for hearing.
The Prosecutor, Insp Ayodele Ayeni, told the court that the defendant committed the crime sometime in October 2025 at about 2.00 p.m. inside Bodija Market in Ibadan.
Ayeni stated that Adeboye fraudulently obtained the sum of N400,000 from one Mrs Busayo Akintayo after agreeing that he would use the sum to run a yam selling business on her behalf.
He explained that the agreement also covered remitting the gains made from the sale of the yam to Akintayo, but that the defendant converted the N400,000 and the gains therefrom to his personal use.
The prosecutor said that the offences contravened the provisions of sections 419 and 390(9) of the Criminal Code, cap 38, vol. ii, Laws of Oyo State, 2000. (NAN)
