A 27-year-old sales representative, Victor Ogbonnaya, on Tuesday appeared in a Magistrates’ Court in Tinubu, Lagos, for allegedly stealing N50 million belonging to his employer.
The police charged Ogbonnaya, whose address was not provided, with theft.
He pleaded not guilty.
The prosecution counsel, Insp Samuel Ishola, told the Court that the defendant committed the offence in 2020 at Shop 128, Broad St. Lagos Island.
Ishola said that the defendant failed to account for N50 million worth of wristwatches he sold for his employer, Mr Gabriel Ngwu.
He said that the offence contravened the provisions of Section 287 (7) of the Criminal Law of Lagos State, 2015.
Magistrate A.A. Paul admitted the defendant to bail in the sum of N1million with two sureties in like sum.
Paul adjourned the case until May 12 for mention.