Following his plea, the magistrate, Mrs. O. O. Oshin, admitted him to bail in the sum of N250, 000, with two sureties in like sum.
Magistrate Oshin also ordered the sureties who must be residents of Lagos State to furnish the court with three years tax payable to the Lagos State government, meaning of livelihood and their addresses, which must be verified by the prosecutor.
The magistrate while adjourning the matter till February 22, 2019, for trial, ordered that the two defendants be remanded in prison custody pending the fulfilment of the bail conditions.
Count one of the charge reads: “That you Ugwuanyi Obinna ‘M’, Abudu Nnemeka ‘M‘ and others now at large, on or about April 2018, at No 12, Koseh Street, Balogun, Lagos, in the Lagos Magisterial District, did conspire amongst yourselves to commit felony to wit: stealing and there committed on offence contrary to punishable under Section 411 of Criminal Law of Lagos State, 2015.
And the count two reads: “That you Ugwuanyi Obinno ‘M’, Abudu Nnemeka ‘M‘ and others still at large on or about April 2018, at No 12, Kosah Street, Balogun, Lagos, in the Lagos Magisterial District, fraudulently converted to your own use the sum of Four Million Eight Hundred Thousand Naira being proceeds from sale of Cosmetics products property of Fidelis Ozioko, ‘M’ and thereby committed on offence contrary to punishable under Section 287 (1 ) of criminal Law of Lagos State 2015”.