A 43-year-old businessman, Saidi Yakubu, who allegedly stole petroleum product worth N5.4 million, was on Wednesday brought before an Ikeja Chief Magistrates’ Court.
Yakubu, whose address was not given, is stealing and false pretences charge.
Police Prosecutor Simeon Imhonwa told the court that the accused committed the offence on Jan. 9 at the premises of Fellourdi International Ltd, Victoria Island, Lagos.
He said the accused collected the petroleum product from the complainant, Mr Isibor Christopher, the CEO of Fellourdi and issued a cheque of N2.4 million as part payment.
According to him, the cheque was dishonoured on presentation as a result of insufficient funds.
“Efforts by the complainant to get the accused to return the petroleum product or pay the money were unsuccessful.
“The accused absconded after committing the crime, but was later apprehended by the police.”
The offences contravened Sections 285, 312, 313 and 409 of the Criminal Law of Lagos State, 2015 (Revised).
The News Agency of Nigeria (NAN) reports that Section 285 stipulates three years for stealing, while Section 312 provides 15 years for false pretences.
The accused pleaded not guilty to the charges.
In her ruling, the Chief Magistrate, Mrs B.O. Osunsanmi, granted the businessman bail in the sum of N500,000 with two sureties in like sum.
The sureties must be gainfully employed and should also show evidence of two years’ tax payment to the Lagos State Government, she said.
The case was adjourned until May 14 for mention. (NAN)