A 58-year-old businessman, Philip Balogun, has been arrested and dragged before a Lagos Magistrate’s Court for allegedly defrauding a customer, Akinola Suraju, of a staggering N50 million under false pretences.

The operatives of Zone 2 Command, Onikan, Lagos, nabbed Balogun after he allegedly lured his victim into paying the huge sum through his company, Nawag Global Enterprises, with the promise of purchasing a truck.


However, instead of fulfilling the deal, Balogun reportedly pocketed the money, switched off his phones, and vanished into thin air.

When Suraju’s repeated attempts to contact Balogun failed, he lodged a petition with Assistant Inspector General of Police (AIG) Adegoke Fayoade, who swiftly deployed his crack team to track down the suspect.

After an intense manhunt and intelligence-led operation, detectives finally smoked him out of his hideout in Lagos.

Following an investigation led by Inspector Love Amini and his team, Balogun was arraigned before the Igbosere Magistrate’s Court, sitting at Tinubu Magistrate’s Court, on a three-count charge of obtaining money by false pretence and stealing.



The police prosecutor, DSP Francis Igbinosa, told the court that the offence took place on December 28, 2023, at Block 211, Flat 1, Amuwo Odofin Housing Estate, Lagos.

He said Balogun fraudulently obtained N50 million, failed to deliver the truck, and went into hiding before being tracked down and arrested.

The prosecution stated that the alleged offences violate Sections 411, 314(a), and 287 of the Lagos State Criminal Law, 2015.

Balogun, however, pleaded not guilty.

Chief Magistrate O.O. Olatunji granted him bail but ordered that he be remanded at Ikoyi Correctional Facility until he meets his bail conditions.

The case was adjourned to March 19, 2025.


https://pmnewsnigeria.com/2025/02/16/lagos-businessman-balogun-remanded-in-prison-accused-of-swindling-customer-of-n50-million/#google_vignette