44-year-old Eseosasere Gift Osifo was earlier arrested for impersonating Osinbajo on social media site, Facebook.
Daily Post reports that Osifo allegedly used the fake Facebook account opened in the name of the vice-president to defraud unsuspected victims.
Mr Onoche Ekwom, Principal Legal Officer, Department of State Services (DSS), the Prosecutor, told the court that the accused committed the offence between January and August 2016 before he was arrested and brought to the court.
The Prosecutor informed the court that Osifo had successfully been impersonating Osinbajo for months. This went on till he fell prey to the last victim, which led to his arrest.
He said the offence contravened Sections 484 and 422 of the Criminal Code, Cap 34, Vol. 11, Laws of Osun, 2002.
The charges were read to Osifo following which he pleaded not guilty to the two counts on the charge sheet: impersonation and fraud.
Counsel to the accused, Mr Peter Ofoyeju, prayed the Magistrate to grant his client bail in the most liberal terms.
The Magistrate, Mrs Sodamade Fatimoh, granted the accused person bail in the sum N500,000 and two sureties in like sum.The case was subsequently adjourned to November 21 for hearing.