Two businessmen, Hyginus Eze and Matthew Enetomhe, were on Friday arraigned before an Ikeja Magistrates’ Court for allegedly obtaining a total of N220 million under false pretence.

Eze, 53, of Okota area, and Enetomhe, 65, of Banko Estate, Irawo, both in Lagos State, were arraigned before Magistrate Lateef Owolabi on a three-count charge bordering on obtaining by false pretence and stealing.

They, however, pleaded not guilty to the charges.

The prosecutor, Supol Josephine Ikhayere, told the court that the defendants committed the offences sometime in August 2024 at Oba Akran Avenue, Ikeja.

Ikhayere alleged that Eze obtained the sum of N150 million, while Enetomhe obtained N70 million from Citygate Global Investment Ltd., located at Oba Akran Avenue, Ikeja.

“They took the loan with the intention of repaying the company when due but failed to do so.

“The defendants, therefore, issued cheques from Zenith Bank, FCMB, and Providus Bank, which were later returned and discovered to have been cloned,” she said.

Ikhayere added that the defendants conducted themselves in a manner likely to cause a breach of the peace by collecting the said sum from the investment company without repayment.

The offences, she said, contravened the provisions of Sections 168, 338 and 365 of the Criminal Law of Lagos State, 2015.

The Magistrate granted the defendants bail in the sum of three million naira each with two sureties each in like sum.

Owolabi ordered that the sureties must be gainfully employed and must show evidence of tax payments to the state government.

He adjourned the case until June 26 for hearing.