Court grants bail to accused who allegedly stole N718, 000

A Surulere Magistrate’s Court in Lagos, has granted bail to a businessman, Michael Dike, standing trial for allegedly stealing N718,000.

Dike, who was arraigned on a two-count charge of fraud and stealing, pleaded not guilty and was admitted to a bail of N250,000 by the Chief Magistrate, Abiola Soladoye,

The prosecutor, Insp. Olaide Sunday, told the court that the accused committed the offence on July 9, at C&G Tropicana Ltd, Orile in Lagos.

Sunday explained that Dike collected the money from one Mr Bello Sheriff on the pretext of supplying him tiles.

The prosecutor said the accused failed to supply the tiles and converted the money to his personal use.

He said the offence contravened Sections 419 and 390 (9) of the Criminal Code Laws of Lagos State.

Further hearing in the case was adjourned to Aug. 20.