Man docked over alleged theft of N2.2m pharmaceutical products

A 30-year-old unemployed man, Olusegun Obasola, who allegedly stole N2.2million worth of pharmaceutical products, was on Monday brought before an Ikeja Magistrates Court, Lagos.

The products belong to the Geneith Pharmaceutical Company, the complainant in the case.

Obasola, who resides on Adenekan Street, Alakuko, in Lagos, is facing a two-count charge of felony and stealing.

The Prosecutor, Sgt. Babaji Ishaku, told the court that the accused committed the offences between 2014 and 2016 at Geneith Pharmaceutical Company, located at No. 12, Adewale Crescent, Bolade Street, Oshodi, Ikeja, Lagos.

Ishaku said the accused was formerly a sales representative with the company before his appointment was terminated in February 2016 due to dishonesty.

He alleged that the accused collected the pharmaceutical products, sold them and refused to remit the proceeds to the company’s account.

“He sold the products and converted the money to his own use, instead of remitting it into the company’s account,’’ the prosecutor said.
‎
The offence contravened Sections 285 and 410 of the Criminal Law of Lagos State, 2011.‎

The accused, however, pleaded not guilty to the charge.

The Magistrate, Mr J.A. Adegun, granted the accused N200, 000 bail, with two sureties in like sum.
‎
Adegun ordered that the sureties must be employed and should show evidence of tax payment to the Lagos State Government.‎

He adjourned the case till April 7, for trial.