An operations manager, Ekanem Idongesit, was on Wednesday docked in a Grade I Area Court in Karu, Abuja for allegedly defrauding a company of N4.2 million.
The police charged Idongesit, 46, with criminal breach of trust, cheating and criminal misappropriation.
The Prosecution Counsel, Mr Edwin Ochayi, told the court that N7 million was disbursed into the defendant’s account by the Natural Tribal Nigeria Limited for the procurement of raw materials and construction of a warehouse but he only utilised N3.08 million.
He said the defendant converted N4.23 million to his personal use.
Ochayi said that the defendant confessed to the crime.
The offence, he said, contravened the provisions of sections 312, 322 and 309 of the Penal Code.
Idongesit, however, pleaded not guilty to the charge.
The Judge, Malam Umar Mayana, admitted the defendant to bail in the sum of N250,000 with two reasonable sureties each in like sum.
He ordered that N1.4 million which was one-third of the amount involved be deposited as security of bail.
Mayana ordered that the residential addresses of the sureties must be verified by the court and police personnel.
The judge adjourned the case until April 19, for a ruling.
