A 38-year-old man, Segun Oladeyo, was remanded in custody on Wednesday after being arraigned before a Lagos Magistrate Court in Igbosere for allegedly stealing a car worth N10 million.
Oladeyo, whose residential address was not disclosed, faces two counts of conspiracy and theft, brought against him by the police.
Prosecutor Inspector Cyriacus Osuji informed the court that Oladeyo conspired with others, who are currently at large, to commit the alleged crime. According to Osuji, the incident took place on December 4, 2024, at around 10:30 a.m. on Adekola Balogun Street, Marwa, Lagos. Oladeyo is accused of stealing a Toyota 4Runner SUV, registered as KRD 764 FX, valued at N10 million, which belonged to Sayeed Farms Limited.
The charges against Oladeyo contravene Sections 411 and 287 (7) of the Criminal Laws of Lagos State, 2015.
The defendant pleaded not guilty to the charges. Magistrate Mrs. O. Wahab granted him bail in the sum of N1 million, with two sureties in like sum. The sureties must be gainfully employed, with one being a blood relation. The magistrate further ruled that the sureties must provide evidence of tax payment to the Lagos State government and reside within the state. She also ordered that their addresses be verified.
Oladeyo was remanded at the Ikoyi Correctional Centre until he meets the bail conditions. The case was adjourned until February 6, 2024, for mention.