The Police has arraigned a former Managing Director of an aviation fuel firm, Star Orient Nigeria Limited, Dare Osamo, and two others over an alleged N1bn fraud.
The police arraigned Osamo alongside a lawyer, Ayoola Abisola, and Hussaina Abdulkadir on four counts bordering on forgery and stealing before the Lagos State Magistrates’ Court in Yaba on Wednesday.
They pleaded not guilty to the charges levelled against them.
The presiding magistrate, A.A. Oshoniyi, queried the prosecutor, Jimon Joseph, on why he did not avail the court of the advice issued by the state Director of Public Prosecution.
Responding, Joseph told the court that the DPP advice stated that the suspects had a case to answer but that they should be charged at the high court.
The magistrate ordered the prosecutor to avail the court of the DPP advice at the next adjourned date and granted the suspects bail in the sum of N5m with two responsible sureties in like sum and one of them must be blood relative.
She added that the sureties must be gainfully employed, must provide details of their residential address and evidence of tax payment to the state.
The case was adjourned by the magistrate till March 29, 2021.