The defendants, whose addresses are unknown, are facing a two-count charge of stealing and conspiracy.
The prosecutor, Sgt. Tsav Dominic, told the court that the defendants committed the offences on Nov. 12, at about 12.30 p.m. in Sango Garage, Ota.
Dominic said that the defendants conspired and stole 29 bags of rice valued at N450,000 belonging to one Gbemisola Adepoju.
The prosecutor said that the offences contravened sections 390(9) and 516 of the Criminal Code Laws of Ogun, 2006.
However, the defendants pleaded not guilty to the charge.
The Senior Magistrate, Mrs Adebayo Alebiosu, granted the defendants bail of N200,000 each with two sureties each in like sum.
Alebiosu said that the sureties must be resident within the jurisdiction of the court and should be gainfully employed.
She ordered that the sureties should swear to an affidavit of means and submit four recent passport photographs to the court.
The magistrate also said that the sureties should produce evidence of tax payment to Ogun Government and their addresses should be verified by the police.
Alebiosu adjourned hearing in the case to Nov. 23.