A 39-year-old woman, Ibukun Funmilayo, has been brought before a Magistrate’s Court in Akure over an alleged ₦5.1 million fraud case.
Funmilayo, identified as a thrift collector, is standing trial on a two-count charge of obtaining money under false pretences and fraudulent conversion.
Prosecuting officer, Inspector Folasade Adeyemi, told the court that the defendant allegedly defrauded one Fademine Olatunji Morounke of ₦5,149,500 between January and November 2025 at Adedeji Estate along Igbatoro Road in Akure.
The prosecution further claimed that the defendant converted the money to her personal use.
The alleged offences violate Sections 419 and 390(8)(b) of the Criminal Code Law of Ondo State, 2006.
Funmilayo pleaded not guilty to the charges.
Magistrate R.I. Adelakin granted her bail in the sum of ₦5 million with two sureties in like amount. However, she was ordered to remain in police custody until she meets the bail conditions or be moved to the Olokuta Correctional Centre.
The matter was adjourned until April 29, 2026, for further hearing.