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An Oyo State High Court sitting in Ibadan on Tuesday remanded in prison a woman accused of duping her victim of N34.5 million.

The Economic and Financial Crimes Commission (EFCC) arraigned the woman, Iyabo Okoh, and her company, Mega Bolex Quarry Ltd before the court on a two-count charge following a petition by the victim, Sherifa Adeyemi.

According to the commission, Mrs Okoh, sometimes in March 2016, invited Mrs Adeyemi to invest in her company.

Mrs Adeyemi stated that after paying N34, 574,000.00 to the defendant through her company’s account, she refused to issue her a share certificate or grant her access to the company’s affairs.

She stated further that the accused also refused to refund her money.

One of the counts reads.’ That you, Iyabo Ruth Okoh and Mega Bolex Quarry Ltd between 15th August, 2016 and 13th March, 2017, at Ibadan within the Ibadan judicial Division of this honourable Court, with intent to defraud obtained the sum of Thirty Four Million, Five Hundred and Seventy Four Thousand Naira (N34,574,000.00) only from one Adekunbi Sherifa Adeyemi by falsely pretending that it is the cost of shares purportedly sold to her from your company, Mega Bolex Quarry Ltd which representations you knew to be false and thereby committed an offence”.

The defendants however, pleaded not guilty to the charge.

In view of the plea, EFCC’s counsel, Ben Ubi, prayed the court for her trial and remand in prison custody.

However, counsel to the defendants, Adeyinka Adeyemi, made an application for bail, and prayed the court to remand Mrs Okoh in EFCC custody pending determination of the application.

The EFCC counsel, however, opposed the prayer on the grounds that the proper place of custody after arraignment is the prison.

Giving his ruling, Justice A.N Akintola adjourned the case to July 2 for hearing of the bail application and advised the defendant to at least refund part of the money involved.

He then remanded the accused at the Federal Prisons, Agodi, pending the determination of her bail application.

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