A former depot supervisor of Total Nigeria Plc, Emmanuel Abulude, was Friday arraigned by the Economic and Financial Crimes Commission, EFCC, before an Ikeja high court for allegedly stealing petroleum products worth N285.2 million.
The former oil company official was charged on a one-count charge of stealing by fraudulent conversion before Justice Lateefa Okunnu with his company, Emmanbyink Ventures Limited.
Abulude was alleged to have obtained the sum of N285.2 million representing the proceeds of 92 trucks of petroleum products between September 2011 and January 2012 .
As a depot supervisor at the Nigerian National Petroleum Corporation, NNPC, Mosimi, Lagos, the defendant was accused of failure to remit the sum to his employers.
According to him, Abulude’s alleged offence contravene Section 285 (9)(b) of the Criminal Laws of Lagos State 2011.
He however pleaded not guilty to the charge.
Ruling on his bail application, Justice Okunnu granted him bail in the sum of N20 million with two sureties in like sum, while making it mandatory for the sureties to be gainfully employed and resident in Lagos State.
She said one of the surety must own a property of substantial value in Lagos State while the other surety must be a blood relative of the defendant. She further ruled that the sureties are to produce evidence of three years tax clearance payable to the Lagos State Government, as she ordered the defendant to report once in a month at the EFCC office in Lagos throughout the duration of the case. The matter was adjourned to June 5 for trial.