The accused is standing trial on a three-count charge of burglary, stealing and unlawful possession.
The Magistrate, Mr Banji Ayeomoni, also ordered that the bicycle be forfeited to government as the owner of the bicycle could not be ascertained.
He adjourned the case till Jan. 19 for further hearing.
The accused whose occupation and address were unknown was standing trial on a three-count charge of burglary, stealing and unlawful possession.
Earlier, the Police Prosecutor, Zedekiah Orogbemi told the court that the accused on Oct. 8, 2016, around 3.45a.m at Sabo area in Okitipupa burgled the house of one Amadu Sanni through the window.
Orogbemi said the accused stole a Gionee phone belonging to Sanni valued at N18,000.
The prosecutor said the accused on Oct. 26, 2016 around 8.00 a.m at Sabo area was unlawfully in possession of an ash coloured Raleigh bicycle with chasis no: TA 0304017219, valued N50,000.
He said he was unable to give satisfactory account of how he came about the bicycle.
Orogbemi said the accused committed offences contrary to and punishable under Sections 411, 390 (9) and 430, Criminal Code, Cap.37, Vol.1, Laws of Ondo State 2006.