Oluwabukunola Gadzama, a businesswoman, was charged by the Economic and Financial Crimes Commission with stealing N34.5 million under the guise of acquiring a piece of land.
She was charged before an Ikeja High Court.
On Wednesday, Mr. Gadzama and her business, Buildcon Global Services Ltd., were arraigned on a two-count accusation that involved stealing and keeping the profits of crime.
However, the defendant entered a not-guilty plea to the charge.
Franklin Ofoma, the attorney for the EFCC, then asked the court to set a trial date and to hold the defendant until the trial could begin.
The defendant allegedly committed the offences in Lagos between October 2021 and April 2022, according to the prosecution.
According to his allegations, the defendant took N34.5 million from the complainant, Adeyemi Joshua, and used it for her gain.

According to him, the money was meant for the purchase of a 300-square-meter plot of land situated at Mak Court Estate in Lekki.
The anti-graft agency also submitted that the defendant allegedly retained the money unlawfully.
The defence counsel, I.O. Lala, however, informed the court that he had a pending bail application and urged the court to hear it.
Mr Lala, while moving the application, argued that the defendant was ready to stand trial and that the offences for which she was charged were bailable.
He prayed the court to grant the defendant bail on liberal terms.
The prosecutor, however, opposed the bail application, arguing that the defendant was a flight risk.
Mr Ofoma argued that the defendant had, on November 20, 2024, jumped the administrative bail given to her by the EFCC.
READ ALSO: Natasha on the Brink As INEC Clears Path for Recall, Notifies Senate
Justice Ismail Ijelu, in his ruling, admitted the defendant to bail in the sum of N5 million with two responsible sureties in like sum.
Mr Ijelu stated that the sureties must be gainfully employed and must show evidence of three years’ tax payment to the Lagos State Government.
He added that the residences of the sureties must be verified by the chief registrar of the court.
“I hereby remand the defendant in the correctional centre pending the perfection of the bail application,” the judge said.
The court adjourned the case until April 15 for the commencement of trial.