Four men who allegedly stole their company’s reinforcement steel valued N5.1 million on Friday appeared before an Ikeja Chief Magistrates’ Court.
The defendants are 42-year-old storekeeper, Olaleye Akintola; 27-year-old driver, Michael Taiwo; 52-year-old iron bender, Femi Olaoye; and Wasiu Bashiru, 44.
They are being tried for conspiracy and stealing.
The prosecutor, ASP Raji Akeem told the court that the offences were committed on Sept. 16 at BISWAL Company Ltd., Wemco Road, Ogba, Lagos.
Akeem said that the defendants stole 10 tonnes of reinforcement steel, property of BISWAL Company Ltd.
He said that the defendants were to deliver the steel to a site in Ilorin but they diverted it to their own location.
The offences, according to the prosecutor, contravene Sections 287 and 411 of the Criminal Law of Lagos State, 2015.
The defendants, however, pleaded not guilty to the charges.
The Chief Magistrate, Mrs. B. O. Osunsanmi, granted them N300, 000 bail with two sureties in like sum.
Osunsanmi adjourned the case until Oct. 31 for mention.