Two staff members of Sedereco Company on Wednesday appeared at an Ikeja Chief Magistrates’ Court for alleged theft of nylon materials worth N763,000.

The accused, Samson Saidu, 29, and Stanley Agbi, 38, are residents of Egbeda and Ipaja areas of Lagos State.

They, however, pleaded not guilty to a three-count charge of conspiracy, receiving stolen property and stealing.

The prosecutor, Insp. Victor Eruada told the court that the accused persons committed the offences on April 11 within Sedereco Company located in Oluwaga, Ipaja area of Lagos State.

Eruada said Saidu stole the nylon materials worth N763,000 from the company belonging to the complainant, Mr Yusuf Babatunde.

He said that Saidu then handed the stolen goods to Agbi to sell so that both of them could share its proceeds.

The prosecutor said that Agbi knowing full well that the materials were stolen, received it.

The prosecutor said that the offences contravened Sections 287 and 411 of the Criminal Law of Lagos State, 2015. Chief Magistrate Dan Oni in her ruling granted bail to the accused in the sum of N200,000 with two sureties in like sum.

Oni adjourned the case until May 9 for trial.

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