A Wuse Zone II Magistrates’ Court on Wednesday ordered that a 45-year-old man, Dayo Falegan, who allegedly stole precious stones worth N50 million, be remanded in a correctional service facility, pending bail application.
The police charged Falegan, whose address was not given, with three counts of theft, criminal breach of trust and intimidation.
Magistrate, Idayat Olaide, ordered that the defendant be remanded at Keffi Correctional Centre and adjourned the case until January 27 for the hearing of his bail application
Earlier, the prosecution counsel, Stanley Nwodo, told the court that sometime in Sept. 2016, the defendant while working for Peak Gem Resources Ltd., stole precious stones worth N50 million under his care.
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Nwodo further alleged that the defendant sold the said stones to an unknown person and converted the proceeds of the sale to his personal use.
In addition, the prosecutor said that the defendant also obstructed and prevented the company from carrying out mining work by using intimidation.
Nwodo said the offence contravened the provisions of sections 287, 99 (A) and 396 of the Penal Code.
The defendant, however, pleaded not guilty to the charges.