EFCC arraigns Lagos man over alleged N70m fraud

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EFCC arraigns Lagos man over alleged N70m fraud

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, Awolowo Road, Ikoyi, Lagos has arraigned one Ntai Bagshaw and his company, Terraworks Limited before Justice I. O. Ijelu of the Lagos State High Court, sitting in Ikeja, Lagos over alleged fraud.

A statement issued by the commission and posted on its official X handle on Friday said Bagshaw and the company are being prosecuted on a two-count charge, bordering on obtaining money under false pretence and stealing.

“That you Ntai Bagshow and Terraworks Limited sometime in December 2021 at Lagos within the jurisdiction of this Honourable Court dishonestly converted to your own use the sum of N70,000,000.00 being payment for Detached Duplex located at Ogudu GRA, Lagos State”, one of the counts reads.

He pleaded “not guilty” to the charges when they were read to him, following which prosecution counsel, F. T. Giwa asked the court for a trial date and prayed that the defendant be remanded in a correctional center.

Justice Ijelu adjourned the matter till May 13, 2025 for the hearing of the bail application and commencement of trial. He ordered that the defendant be remanded in a correctional facility.