A 32-year-old woman, Ijeoma Iwegue, appeared before a Sabo-Yaba Chief Magistrates’ Court in Lagos over alleged transfer of N2.9 billion.
Iwegue, whose residential address was not given in court, pleaded not guilty to a three-count charge bordering on fraudulent transfer.
The Prosecuting Counsel, A. O Nwabueze, told the court that Iwegue and one other still at large committed the offences on February 5 and February 7 at Plot 8, Providence Street, Lekki Phase 1, Lagos.
He submitted that the defendant allegedly made transfers to several cohorts and investigations showed that she received the total sum of N821 million into two separate accounts numbers.
According to him, the offence is punishable under Sections 314 and 328 of the Criminal Law of Lagos State, 2015.
The Chief Magistrate, Adeola Olatubosun, granted bail to the defendant in the sum of N20 million with three sureties in like sum.
Olatubosun ordered that one of the sureties must be a land owner in the court jurisdiction and show evidence of three years tax payment to the Lagos State Government.
She, however, adjourned the case until July 31 for hearing.
The prosecutor said the offences contravened Section 8 (a) of the Advance Fee Fraud and Other Related Offence Act 2006.