He was released on bail in the sum of N2 million with two sureties in like sum.
Magistrate Adejumoke Ademola-Olowolagba, who gave the ruling, said the sureties must swear to the affidavit of means, while one of the sureties must be a blood relation of the accused.
In addition, the sureties must reside within the court’s jurisdiction.
The accused is facing a three-count charge of conspiracy, housebreaking and unlawful possession of the property to which he pleaded not guilty.
Earlier, Police Prosecutor Emmanuel Abdullahi told the court that the accused and others still at large committed the offences on Jan. 27 at 1.40 a.m. at No. 7, Iloromu Quarters, Ile-Ife.
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Abdullahi said the accused broke into the house of the complainant, the Rev. Oni Olubusayo and stole some household equipment.
The items allegedly stolen include a standing fan, one DVD player, four speakers, pliers and one chisel.
He said the case was reported on Jan. 27 at “C” Police Divisional Headquarters, Ile-Ife.
The offences contravened Sections 412 and 430 of the Criminal Code, Laws of Osun, 2002.
The accused’s lawyer, Miss Mariam Lai-Ibrahim, applied orally for the bail application of the accused, promising he will not jump bail.
The case was adjourned until Feb. 14 for hearing.