Company manager pleads guilty to N36.4m theft charge

A company manager, Sadiq Ishola, who pleaded guilty to stealing N36.4 million on Friday appeared before an Ikorodu Chief Magistrates’ Court.

Ishola, whose address was not provided, is standing trial on a one-count charge of stealing.

The prosecutor, Insp Adegesin Famuyiwa, told the court that Ishola committed the offence on Aug 7, at about 2.56 p.m., at No. 30, Fella Hammed St., Agric Owutu area of Ikorodu, Lagos.

He alleged that the defendant stole the sum of N36.4 million, belonging to Honourable Gas Accessories company.

Famuyiwa said the defendant’s action was likely to cause a breach of the peace.

The prosecutor said that the offences contravened Section 287 (7) of the Criminal Law of Lagos State, 2015.

The Chief Magistrate, Mr A.O Ogbe, granted the defendant bail in the sum of N2 million with two sureties in like sum.

He, however, ordered that the defendant be remanded at the correctional centre until he perfects his bail and adjourned the case until Sept. 18 for restorative justice.