A 32-year-old auto dealer, Nicholas Olabomi, was on Friday brought before an Iyaganku Chief Magistrates’ Court in Ibadan for allegedly defrauding a client of ₦10 million in a car purchase deal.
Olabomi, whose residential address was not disclosed, faces two charges relating to fraud and theft. He pleaded not guilty to the accusations.
According to the prosecution, led by Corporal Akeem Akinloye, the incident occurred in July 2024 in the Oke-Ado area of Ibadan. The defendant is accused of collecting ₦10 million from one Awotunde Awolola under the false promise of delivering a Toyota Venza, which was never supplied.
Instead, the prosecutor claimed, the defendant diverted the funds for personal use. These actions, Akinloye said, violate Sections 390(9) and 419 of the Criminal Code applicable in Oyo State, 2000.
Presiding over the matter, Chief Magistrate Olabisi Ogunkanmi granted bail to the defendant in the sum of ₦3.5 million, with two sureties required in the same amount. The court stipulated that one surety must be a property owner, while the other must reside within the court’s jurisdiction.
The case was adjourned to November 26 for further proceedings.