Six men on Monday, appeared before an Iyaganku Chief Magistrates’ Court, for alleged stealing and receiving stolen rolling coil worth N100 million.
The defendants: John Friday, 48, Akinlolu Ridwan, 34, Aralu Chukwuma, 57, Alex Urubuisi, 47, Ayanda Musibau, 48, and Abdullahi Mati, 63 are facing a three-count charge of conspiracy, stealing and receiving stolen rolling coil.
They, however, pleaded not guilty to the charge.
The prosecutor, ASP Sikiru Opaleye, said that the defendants allegedly conspired to commit the offence of stealing and receiving stolen goods.
Opaleye alleged that the defendants and others at large on May 10, stole four bundles of rolling coil valued N100 million at Toll-gate, along Ibadan/ Lagos Expressway, Ibadan.
He said that the bundles are property of Owolabod Trading Company, belonging to one Oduntan Owolabi.
He said that Musibau and others at large, allegedly received the four bundles of rolling coil valued N100million.
Opaleye said that the offence contravened Section 383 and punishable under Sections 390 (9), 427 and 516 of the Criminal Code Laws of Oyo State, 2000.
The defence counsels, Olubayo Oyedeji, Olasehinde Olusesan and Ibironke Sadia applied for bail of their different clients on liberal terms.
The Chief Magistrate, Mrs Olabisi Ogunkanmi, admitted the defendants to bail in the sum of N10 million each, with two sureties each in like sum.
Ogunkanmi ordered that one of the sureties must be a building property owner within the court jurisdiction, while the second must be a blood relative to each of the defendants.
She, thereafter, adjourned the matter until Sept. 3, for hearing. (NAN)
