Two businessmen,

Odumuyiwa, 36, and Oganla, 37, were arraigned in an Ikeja Magistrates’ Court presided over by Mr A. Adigun on a charge of conspiracy, fraud and stealing.

However, the accused, residing in Agege, near Lagos, denied the charges.

They were subsequently, admitted to bail in the sum of N200, 000 each with two sureties each in like sum.

The Prosecutor, Sgt. Emmaunel Ajayi, said that the duo committed the offences on March 30 at Agege.

He said that the two men conspired to obtain N44 million from one Babatunde Owolabi under the pretext of using the money to do business.

“The accused fraudulently collected the money from the complainant with a promise to pay back but refused.”

Ajayi said that after the complainant gave the accused the money, they refused to pay at the agreed date and were nowhere to be found.

“The accused disappeared into thin air.

“All efforts made by the complainant to collect his money proved unsuccessful as the accused refused to pick his calls.”

He said that the offences contravened Sections 287, 314 and 411 of the Criminal Law of Lagos State, 2015.

The News Agency of Nigeria (NAN) reports that the accused may be jailed for 15 years if found guilty of obtaining money under false pretences.

The case was adjourned until June 12 for mention.