Three men appeared in a Magistrates’ Court in Yaba, Lagos, on Thursday over alleged N40.3 million furniture theft.
The police charged Owolabi Sikiru, 43, Adeolu Ojedokun, 34, and Yinusa Ejika, 35 with two counts of conspiracy and stealing.
They however, pleaded not guilty to the charge.
The Prosecutor, ASP Roman Unuigbe, told the court that the defendants committed the offence on Aug. 8, at South Wood Resources and Services Ltd., at No. 23, Owolewa Str., Surulere, Lagos.
He said the defendants who were supposed to deliver furniture to the store, diverted the truckload of the furniture worth about N40m to their personal use and tried to sell them illegally.
He said that the defendants stole 149 leather chairs valued at N80,000 each, 45 leather chairs valued at N100,000 each and 10 Flo leather chairs valued at N185,000 each.
Unuigbe added that they also stole 11 Mesh back chairs valued N550,000 each and 64 Swivel chairs valued at N250,000 each; total value of N40.3m.
The offence, he said, contravened the provisions of sections 411 and 287 of the Criminal Laws of Lagos State 2015 (Revised).
Newsmen report that Section 287 stipulates a three-year jail term for the offence of stealing, while Section 411 provides two-year for conspiracy.
The defendants were each granted bail in the sum of N500,000 with two sureties each in like sum.
Magistrate M. S. Salawu, in making the order said the sureties must be gainfully employed with evidence of three years tax payment to the Lagos State Government.
She adjourned the matter until Sept. 17, for mention.