Ladipo auto market President docked over alleged N52m fraud


LAGOS — A N52 million fraud suit has been slammed on the President of Aguiyi Ironsi Market, popularly known as Ladipo Market, Mr Jonathan Okoli, before an Ikeja High Court.

Okoli who was arraigned on a three-count charge before Justice Olabisi Akinlade by the Economic and Financial Crimes Commission, EFCC, was accused of obtaining money by false pretence and stealing.

The anti-graft agency alleged that Okoli collected a total sum of N52 million from members of Aguiyi Ironsi International Market Traders Union between 2009 and 2010.

According to EFCC, the money was entrusted to Okoli for the payment of trade permits and auto dealers fees by members of the association.

He pleaded not guilty to the offences.

Okoli was said to have diverted the money to his personal use and failed to remit the payments to the Lagos State Government and Mushin Local Government Area.
Already, he has filed a bail application, but the trial judge, ordered him to be remanded in Ikoyi Prison pending the hearing of his application.

The matter is now adjourned for May 16, 2013.

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