Just going through my inbox this evening and stumbled on this caption "Man prosecuted for using another man’s car as loan collateral" under news and so I decided to share. Below is the news excerpt from PremiumTimesNg;
An Ilorin Magistrates’ Court on Monday remanded a man, who allegedly used a car given to him to sell as collateral for loan.
Magistrate Ibrahim Mohammed ordered that Feyisara Pelemo should be kept in the Okekura Prisons custody in Ilorin pending proper application for his bail.
Mr. Pelemo is standing trial on a three-count charge of conspiracy, forgery and issuance of dud cheque.
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According to the prosecutor, Nasiru Yusuf, the accused used the car belonging to Julius Adeyinka to borrow N300,000 from a company.
Mr. Yusuf said the accused collected the vehicle’s documents from Mr. Adeyinka on the pretext of helping him to sell the car.
The prosecutor submitted that the incident occurred in May 2016.
He added that the accused conspired with one Taiye Suleiman, still at large, to commit the offences.
Mr. Yusuf added that when the accused was arrested, he presented a Confidence Microfinance Bank dud cheque to Mr. Adeyinka.
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An Ilorin Magistrates’ Court on Monday remanded a man, who allegedly used a car given to him to sell as collateral for loan.
Magistrate Ibrahim Mohammed ordered that Feyisara Pelemo should be kept in the Okekura Prisons custody in Ilorin pending proper application for his bail.
Mr. Pelemo is standing trial on a three-count charge of conspiracy, forgery and issuance of dud cheque.
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According to the prosecutor, Nasiru Yusuf, the accused used the car belonging to Julius Adeyinka to borrow N300,000 from a company.
Mr. Yusuf said the accused collected the vehicle’s documents from Mr. Adeyinka on the pretext of helping him to sell the car.
The prosecutor submitted that the incident occurred in May 2016.
He added that the accused conspired with one Taiye Suleiman, still at large, to commit the offences.
Mr. Yusuf added that when the accused was arrested, he presented a Confidence Microfinance Bank dud cheque to Mr. Adeyinka.
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