According to the police, the accused person was supposed to deliver the Dangote sugar worth N16 million to the company but failed to do so.
He was arrested and subsequently arraigned before an Ikeja magistrates’ court where he pleaded not guilty.
The defendant’s counsel, E.B Emmanuel, pleaded with the court to grant bail to his client on the most liberal terms.
The presiding magistrate, Aje Afunwa, granted him the bail of N1 million with two sureties in like sum, adding that one of the sureties must be a property owner in Lagos State, and also show evidence of livelihood, evidence of lagos state tax payment and a verifiable address.
The matter was adjourned till July 14.