A car dealer, Mike Obaze has been arraigned by the Economic and Financial Crimes Commission (EFCC) before a Lagos Special Offences Court in Ikeja.
He is accused of stealing N15.5 million from the proceeds of car sales.
The defendant pleaded not guilty to the three-count charge of stealing.
The EFCC Counsel, Mr Ahmed Yerima, requested a trial date, while the defence counsel, Ms Nneka Nkana, informed the court of their intention to submit a bail application.
She also stated that the defence would call two witnesses.
Yerima requested some time to go through the bail application that was served to him and informed the court that the prosecution would call three witnesses against the defendant.
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The prosecutor alleged that the defendant committed the offences in November and December 8, 2021, in Lagos.
He claimed that Obaze converted the sum of N7 million, proceeds from selling a Mercedes Benz GL 12 Model, property of one Mr Anene Nwandukwe.
He also alleged that the defendant converted the sum of N8.5 million, proceeds from purchasing the Toyota Corolla 2015 Model and Toyota Camry 2011 Model, to his personal use.
The alleged offence contravenes Section of the Criminal Laws of Lagos State, 2015.
Justice Olubunmi Abike-Fadipe ordered that the defendant be remanded in the correctional centre and adjourned the case till February 22, 2022, for a bail application hearing.
