Abuja businessman fraud case sees Eze Shedrach arraigned for allegedly diverting ₦2.1m. Court grants ₦200,000 bail, hearing set for September 2

Abuja businessman fraud case has taken center stage as 36-year-old Eze Shedrach was arraigned before the Life Camp Magistrates’ Court on Tuesday for allegedly swindling a customer of ₦2.1 million.

Also read: EFCC Arrests Internet Fraud Suspects in Major Bauchi Raid

The police charged Shedrach, residing opposite Mountain of Fire Church, Mpape, with criminal breach of trust and cheating, offenses under Sections 312 and 322 of the Penal Code.

According to Prosecutor Charity Nwachukwu, the complainant, Ikechukwu Obihara, had entrusted Shedrach with ₦5 million in July 2024 for the purchase and safekeeping of iron rods.

Months later, Obihara requested the rods to be resold but Shedrach allegedly remitted only ₦2.9 million, then closed his shop and vanished with the remaining ₦2.1 million.

Shedrach pleaded not guilty, and the court granted him ₦200,000 bail with two sureties. Magistrate Ramilatu Halilu adjourned the case to September 2 for hearing.

Also read: EFCC Impersonation Conviction: Two Men Jailed in Kano for Fraud

Efforts to recover the balance have reportedly failed, and the case continues to stir public interest in commercial accountability.