Ibukun Onile was alleged to have fraudulently sold some quantities of provisions as soaps, sweet and fleets valued at N5,766,410, property of Tonytonia Industry Limited.
The defendant was arraigned on a three-count charge of conspiracy, fraudulent, felony and stealing before the Chief Magistrate, Mrs. A.O Komolafe.
The prosecutor, Supol E.I Nnamonu, told the court that the defendant committed the offence at 53 Oniwaya, Agege, Lagos, between April 2014 and June 2015.
The defendant pleaded not guilty to the charges preferred against him by the police.
The offence, according to the prosecutor, is contrary to Section 361 and punishable under Section 409,278(1)(a)(b) and 363(3)(d) of the Criminal Laws of Lagos State of Nigeria 2011.Magistrate Komolafe, therefore, granted him bail of N1,000,000 in like sum, with two sureties.
She also ordered that the sureties must be his blood relations and show evidence of two years of tax payment with verifiable addresses.
She, however, ordered that N50,000 should be deposited into the registrar’s account and adjourned the matter to July 23, 2015.
Magistrate Afunwa adjourned the matter till July 22, 2015.