The rice valued at N6.5 million belonged to Christlieb Plc and Brands Capital Ltd. The defendant is facing a two-count charge of conspiracy and theft.
The prosecutor, SP Eshiet Eshiet, told the court that the defendant committed the alleged offence between February and June, 2016 at Block G, Sura shopping complex, Sampson Street, Lagos.
According to him, the offence was punishable under Sections 285 and 267 of the criminal law of Lagos State 2011.
However, the defendant pleaded not guilty to the charges and the magistrate, Mrs O. Martins granted him bail in the sum of N500,000 with two sureties in like sum. One of the sureties must be blood relation and gainfully employed and also show two years evidence of tax payment clearance to Lagos state, Nigeria.