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Home | Businessman Arraigned in Abuja for Allegedly Diverting N2.1 Million Meant for Iron Rods

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Businessman Arraigned in Abuja for Allegedly Diverting N2.1 Million Meant for Iron Rods

Ayobamise Owolabi
Ayobamise Owolabi
Published: July 30, 2025
Last updated: July 30, 2025
2 Min Read
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Businessman Arraigned in Abuja for Allegedly Diverting N2.1 Million Meant for Iron Rods | Daily Report Nigeria
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A 36-year-old businessman, Eze Shedrach, was on Tuesday arraigned before a Life Camp Magistrates’ Court in Abuja for allegedly defrauding a customer of N2.1 million.

Shedrach, whose address is opposite Mountain of Fire Church, Mpape, Abuja, was charged with criminal breach of trust and cheating by the police. He pleaded not guilty to the charges.

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According to the prosecutor, Mrs. Charity Nwachukwu, the case was reported by Mr. Ikechukwu Obihara of Apo, Abuja, who entrusted Shedrach with N5 million in July 2024 to purchase iron rods. Both parties agreed that the iron rods would be stored in Shedrach’s shop until the buyer needed them.

However, in January 2025, Obihara instructed Shedrach to sell the iron rods and return the proceeds. While Shedrach reportedly sold them, he only remitted N2.9 million and allegedly diverted the remaining N2.1 million for personal use. The defendant subsequently shut down his shop and went into hiding until he was tracked and arrested.

Nwachukwu stated that all efforts to recover the outstanding funds were unsuccessful. The offences are said to contravene Sections 312 and 322 of the Penal Code.

Magistrate Ramilatu Halilu granted the defendant bail in the sum of N200,000 with two sureties in like sum. The sureties must reside within the court’s jurisdiction and be employed in reputable organisations.

The case was adjourned until September 2 for hearing.

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The Niger State Police Command has dismantled a 10-member human trafficking syndicate operating in Minna and rescued 36 undocumented youths from various West African countries.

Spokesman for the command, SP Wasiu Abiodun, disclosed that the syndicate was apprehended on July 18, 2025, around 12:30 p.m., following credible intelligence on suspicious activities at 123 Quarters, Minna.

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