A Federal High Court sitting in Lagos on Tuesday ordered the remand of Isiaka Ibrahim, a citizen of the Republic of Niger, at the Ikoyi Correctional Centre over his alleged involvement in a ₦351.5 million fraud.
Ibrahim was arraigned before the court on charges bordering on conspiracy and obtaining money under false pretences. The prosecution alleged that the defendant defrauded his victims of the said sum through fraudulent transactions, details of which were presented to the court during the proceedings.
According to the prosecution, the offences contravene relevant provisions of Nigerian law and are punishable upon conviction. The defendant, however, pleaded not guilty to the charges.
Following his plea, the prosecution urged the court to remand Ibrahim in custody pending the hearing and determination of his bail application. The presiding judge subsequently ordered that he be remanded at the Ikoyi Correctional Centre and adjourned the case to a later date for trial.
The matter is expected to continue as the court takes arguments from both the prosecution and the defence in the coming hearings.