Four individuals who are suspected of stealing reinforcement steel with a value of N5.1 million from their company appeared before an Ikeja Chief Magistrate’s Court on Friday.
Olaleye Akintola, who is 42 years old and works as a storekeeper, Michael Taiwo, who is 27 years old and works as a driver, Femi Olaoye, who is 52 years old and works as an iron bender, and Wasiu Bashiru, who is 44 years old.
They are being tried for conspiracy and stealing.
The public prosecutor, ASP Raji Akeem, informed the court that the offences were carried out on September 16 at BISWAL Company Ltd., which is located on Wemco Road in Ogba, Lagos.
According to Akeem, the accused stole ten tonnes of reinforcement steel that belonged to BISWAL Company Ltd.
According to him, the defendants were supposed to transfer the steel to a location in Ilorin, but instead, they took it to their own location.
The prosecution claims that the offences violate both Section 287 and Section 411 of the Criminal Law of Lagos State, which was passed in 2015.
On the other hand, the defendants entered not-guilty pleas to the allegations.
The Chief Magistrate, Mrs. B. O. Osunsanmi, decided to release them on bail in the amount of N300,000 with two sureties in the same amount.
The judge, Osunsanmi, postponed the case’s mention until October 31.
