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Olatubosun Soyelu 35-year-old, who was allegedly stole 1,089 bags of rice was Wednesday by magistrate, O. Martins granted him bail in the sum of N500,000 with two sureties in like sum.
The rice valued at N6.5 million belonged to Christlieb Plc and Brands Capital Ltd. The defendant is faced a two-count charge of conspiracy and theft.
The prosecutor, SP Eshiet Eshiet, told the court that he committed the offence on February and June, 2016 at Block G, Sura shopping complex, Sampson Street, Lagos.
The magistrate explained, the offence was punishable under Sections 285 and 267 of the criminal law of Lagos State 2011.
However, the defendant pleaded not guilty to the charges.
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