Akagha is facing a two-count charge of unlawful sexual advances and indecent treatment.
A Surulere Chief Magistrates’ Court gave the ruling after the accused pleaded not guilty to the charges brought against him.
In addition to the bail, Chief Magistrate Ipaye Nwachukwu, granted the accused two sureties in like sum, one of whom must be a community leader.
She said the sureties should also provide evidence of tax payment to the government.
Akagha a resident of No. 20, Mustapha Kosoko St., Ijesha in Itire area of Surulere, is facing a two-count charge of unlawful sexual advances and indecent treatment.
Earlier, Police Prosecutor Anthonia Osayande told the court that the accused gave the 15-year-old boy a ride from Ayantuga Grammar School, Surulere, at 3.00 p.m. on May 9 and took him to his house for sexual overtures.
She said the accused conveyed the boy in his Toyota Rav4 with registration no. SMK 219 BP to his house to commit the offences.
“When Akagha took him to his house, he indecently treated him by touching his body without his consent.”
The offences contravened Sections 135 (1) and 136 of the Criminal Law of Lagos State 2015.
The case was adjourned until June 26 for trial.