A 50-year-old man, Adedokun Ayinde, was on Wednesday arraigned before a Magistrates’ Court sitting in Isabo, Abeokuta, over the alleged theft of a Toyota RAV4 SUV valued at N40 million and unlawful possession of a firearm.
Ayinde, whose residential address was not disclosed, is facing a two-count charge bordering on stealing and unlawful possession of a firearm.
He pleaded not guilty to the charges.
The prosecutor, ASP Lawrence Olu-Balogun, told the court that the alleged offenses were committed in April 2025 at Obantoko, Abeokuta.
According to the prosecutor, the defendant was entrusted by the owner of the vehicle, Segun Faniran, to sell a 2020 Toyota RAV4 with chassis number 2T3H1RFV3LW079915, valued at N40 million.
Olu-Balogun alleged that Ayinde sold the vehicle without the owner’s consent and fraudulently converted the proceeds to his personal use.
He added that all efforts to recover the money from the defendant proved unsuccessful.
The prosecutor further told the court that Ayinde and others still at large were arrested on June 19 at Abijo GRA, Ajah, Lagos, where they were allegedly found in possession of a fabricated pistol without lawful authority or license.
According to him, the alleged offenses contravene Sections 390(9) and 390(10)(a) of the Criminal Code Laws of Ogun State, 2006, as well as Section 3(1) and (2) of the Firearms Act, Cap F28, Laws of the Federation of Nigeria, 2004.
In her ruling, the Chief Magistrate, Mrs. A.K. Araba, granted the defendant bail in the sum of N5 million with one surety in like sum.
She ordered that the surety must be a registered bondsman with the Ogun State Judiciary.
Pending the fulfillment of the bail conditions, the magistrate ordered that Ayinde be remanded at the Ibara Correctional Center.
The case was adjourned until July 21 for hearing.
SOURCE: NAN
