The magistrate, Mrs F. O. Botoku, admitted Ogunusi to bail in the said sum with two sureties in like sum. Magistrate Botoku ordered that the accused should submit his travelling passport to the court and that the sureties must reside in Lagos State.
The accused, whose address was not given, is standing trial on a 26-count charge bordering on fraud.
The prosecutor, Sergeant Innocent Odugbo, told the court that the accused committed the offences between May and August 2016 in Lagos.
According to the prosecutor, Ogunusi obtained a total of N1.5 billion from 26 different people under the guise of giving them the dollar equivalent of the money.
The prosecutor said that the accused promised to introduce the complainants to forex business, but swindled them. Odugbu said that the accused knew that the representation he made was false. He informed the court that the offences contravened Section 312 (1) (a) of the Criminal Law of Lagos State, 2011.
When the charge was read, Ogunusi pleaded not guilty and the case was adjourned till February 23 and 24 for trial. It was gathered that the accused was, sometime in November 2016, also arraigned for similar offences and was granted the same bail conditions.
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