A 47-year-old businessman, Oluwafemi Adeleye, was yesterday arraigned before an Ikeja Chief Magistrates’ Court for allegedly stealing petroleum products worth N4.6million.
The prosecution told Chief Magistrate Yewande Aje-Afunwa that the defendant committed the offence last April 4 at Uptime Energy Ltd, 9, Salvation Road, Opebi Ikeja, Lagos.
He alleged that Adeleye conspired with others at large and took delivery of 33,000 litres of Premium Motor Spirit (PMS) worth N4.6 million from Mr. Shitta Olukunle, the complainant, on the pretext of paying him.
Nwangwu alleged that Adeleye issued a Diamond Bank cheque No. 57537476 dated April 23, 2018 for N2.7million in favour of Uptime Energy for the product he fraudulently obtained on credit despite knowing that he had no money in his account.
He said the cheque was dishonoured when it was presented at the bank, adding that efforts by the complainant to get the defendant to pay him were unsuccessful. The defendant was said to have absconded and switched off his phone.
Nwangwu said the defendant was later arrested by the police.
Adeleye pleaded not guilty.
Chief Magistrate Aje-Afunwa granted him N850,000 bail with two sureties in the like sum.
Chief Magistrate Aje-Afunwa said one of the sureties must be a relation and be employed.
She said the sureties must show evidence of tax payments to the Lagos State Government. The case continues on February 7.