The Lagos State Police Command on Wednesday arraigned a woman, Ruth Iwegue, for allegedly defrauding Marchant Flutterwave Technologies Solution Limited of over N2.8bn.

Iwegue was arraigned before Chief Magistrate Adeola Olatunbosun of Yaba Chief Magistrates’ Court on five counts of fraud, unlawful conversion and burgling of a financial account.

The police prosecutor attached to the State Criminal Investigation Department, A. O. Nwabuisi, told the court that the defendant, along with her accomplices, logged into the financial portals of the firm and transferred the amount to their accounts.

The 32-year-old defendant was said to have received a total sum of N821.3m transferred to her two accounts.

According to the prosecutor, the defendant and her accomplices committed the offences between February 5 and 7, 2023.

He said the offences contravened and are punishable under Sections 314 and 328 of the Criminal Law of Lagos State, 2015 and Sections 8(a), 1(1) of the Advance Fee Fraud and Other Related Offences Act 2006.

The defendant, however, pleaded not guilty to the charges preferred against her.

The defence counsel, Divine Chiefuna, prayed the court to grant the defendant bail in the most liberal term.

The magistrate, therefore, admitted the defendant to bail in the sum of N20m with two responsible sureties in like sum.

Magistrate Olatunbosun also adjourned the case till July 31, 2023.