MAN, 44, ARRAIGNED OVER N450,000 INDEBTEDNESS TO BANK

A 44-year-old man, Mr. Moshood Adeyemi, has been arraigned at an Osogbo Magistrate's Court over an allegation that he owed the Osun State Microfinance Bank Limited N450, 000.

Adeyemi, who was arraigned on Wednesday, pleaded not guilty when the two-count charge was read to him.

The charge sheet accused the suspect of fraudulently collecting the sum of money from the bank sometime in March, 2009, in Iree.

Defence counsel, Mr. Taiwo Ajibola, however, said the accused had paid N330, 000 of the N450, 000 debt.

Applying for bail, Ajibola said only N120, 000 remained for the accused to pay.

He urged the court to grant him a long adjournment to enable his client to bring the balance to court at the next date of adjournment.

The magistrate, Mr. Olalekan Ijiyode, granted bail to the suspect in the sum of N50, 000 with one surety, who must swear to an affidavit of means.

Ijiyode also ruled that the surety must submit two passport photographs and be a resident within the jurisdiction of the court.

He subsequently adjourned the case till May 7, 2010 .