Kayode Adetayo, a 37-year-old company manager, who allegedly stole N5.38 million from his employer’s safe, on Thursday appeared in a Yaba Chief Magistrates’ court in Lagos.
The News Agency of Nigeria reports that Adetayo, who resides in Ado-Ekiti, is charged with two counts of conspiracy and theft.
He pleaded not guilty to the charges.
The Prosecution Counsel, Sgt. Modupe Olaluwoye told the court that the defendant committed the offence between January and May at the company in Ado-Ekiti.
She alleged that the defendant and his accomplice, the company’s cashier, who is at large, stole N5.38million, being proceeds from the employer’s safe.
The prosecution told the court that the company’s auditor, Mr Sunday Ifenkwe, discovered the theft and financial discrepancy from the company’s branch finances during routine checks.
Olaluwoye alleged that the defendant could not account for the “missing” N5.38million.
The offence, he said, contravened the provisions of sections 411 and 287 (7) of the Criminal Law of Lagos State, 2015 (Revised).
NAN reports that Section 287 (7) stipulates a seven-year jail term for stealing from one’s employer, while the other section provides for two year’s ’ imprisonment for conspiracy for any convicted offender.
Chief Magistrate Oluwatoyin Oghere admitted the defendant to bail in the sum of N2 million with two sureties in like sum.
Oghere ordered that the sureties must be gainfully employed.
The magistrate adjourned the case until September 11 for mention.