MAN REMANDED OVER ALLEGED N10M CAR THEFT

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A 38-year-old man, Segun Oladeyo, was remanded on Wednesday after being arraigned before a Lagos Magistrate Court in Igbosere for allegedly stealing a car valued at N10 million.

Oladeyo, whose residential address was not disclosed, is facing two charges of conspiracy and theft, as brought against him by the police.

Inspector Cyriacus Osuji, the prosecutor, informed the court that the defendant conspired with others, who are currently at large, to commit the alleged crimes.

Osuji stated that Oladeyo carried out the theft on December 4, 2024, around 10:30 am, at Adekola Balogun Street, Marwa, Lagos.

He explained that the defendant stole a Toyota 4Runner SUV, with registration number KRD 764 FX, valued at N10 million, which belonged to Sayeed Farms Limited.

The prosecutor noted that the actions of the defendant violated Sections 411 and 287 (7) of the Criminal Laws of Lagos State, 2015.

Despite the charges, the defendant pleaded not guilty to the allegations.

Magistrate Mrs. O. Wahab granted Oladeyo bail in the amount of N1 million, requiring two sureties to sign in the same amount.

She stipulated that the sureties must be gainfully employed, with at least one being a blood relative of the defendant. Furthermore, the sureties were instructed to provide proof of tax payment to the Lagos state government and must reside within the state.

Wahab also ordered the verification of the sureties’ addresses.

The defendant was then remanded at the Ikoyi Correctional Centre until he could fulfill his bail conditions.

The case was adjourned to February 6, 2024, for further mention.