A 24-year-old Point of Sale (PoS) operator, Shamsudeen Ishiaka, was arraigned on Friday before the Ogudu Magistrates’ Court in Lagos for allegedly defrauding five people of N17 million.
Ishiaka, whose address was not disclosed, is facing two charges—fraud and stealing. He pleaded not guilty to both.
According to the prosecutor, Inspector Bassey Sunday, the alleged offences occurred in November 2024 at Mile 12 Market, Ketu.
The defendant reportedly collected funds from five colleagues through bank transfers, promising to give them cash in return but failed to do so.
The prosecutor said the victims transferred various amounts: Oluwakemi Dada sent N7 million, Nuhu Hassan N4 million, Ahmed Didat N2.7 million, David Chibuzor N1.8 million, and Dare Oyegoke N1.5 million.
Ishiaka allegedly disappeared with the money until he was tracked down and arrested.
The alleged offences violate Section 287 of the Lagos State Criminal Law, 2015.
Magistrate O.A. Daodu granted the defendant bail in the sum of N1 million with two sureties in like amount. The case was adjourned until April 15 for mention.