A 26-year-old commercial driver, Femi Adebayo, on Friday appeared before a Tinubu Magistrates’ Court in Lagos for allegedly absconding with his employer’s N 1.5million vehicle.
Adebayo, whose address was not provided, is facing a charge of stealing.
The prosecutor, Insp. Ben Ekundayo, told the court that the accused committed the offence on Dec. 8, 2017 at Sign Board Bus Stop, Addo, Ajah Lagos.
He said the accused stole a Toyota Camry with Registration No. SGD 802 GZ , property of Mr Anthony Dhokota.
Ekundayo said the complainant gave the accused the car to use for commercial purposes and remit N35,000 weekly.
“He remitted the agreed amount for a month and took off with the car without a trace.
“The complainant was later told that the accused used the car as a collateral to borrow N200,000.
“With the help of the police, the accused was found and arrested,” he said.
The offence contravened section 287 (7) of the Criminal Law of Lagos State, 2015.
Section 287 stipulates a three-year jail term for offenders.
The accused, however, pleaded not guilty to the charge.
In his ruling, the Magistrate, Mr Ade Adefulire, granted the accused bail in the sum of N500, 000, with two sureties in like sum.
Adefulire said the sureties must be gainfully employed and have a minimum balance of N250,000 balance in their bank accounts.
He adjourned the case until Feb. 27 for mention.