EMMANUEL Abulude, a former employee of Total Nigeria Plc., on Friday appeared before a Lagos High Court in Ikeja, where he was charged with stealing petroleum products worth N285.2 million.
Abulude, 47, a depot supervisor, was arraigned by the Economic and Financial Crimes Commission (EFCC) before Justice Lateefat Okunnu.
He is facing a one-count charge of stealing by fraudulent conversion.
Counsel to the Crimes Commission, Mr. Omeiza Adebola, alleged that Abulude committed the offence between September 2011 and January 2012 at the Nigerian National Petroleum Corporation depot in Mosimi, Ogun State.
Adebola alleged that the defendant, being the depot supervisor, had obtained the sum of N285.2 million, which represented the proceeds of 92 trucks of petroleum products and diverted same to his own use.
He said that the offence committed contravened Section 285 (9) (b) of the Criminal Code, Laws of Lagos State, 2011.
Abulude had pleaded not guilty to the charge.
Ruling on his bail application, the judge granted Abulude bail in the sum of N20 million, with two sureties in like sum.
Okunnu directed that the sureties must be gainfully employed and resident in Lagos State.
She said one of the sureties must own a property of substantial value in Lagos State, while the other surety must be a blood relative of the defendant.
The judge said that both sureties are to produce evidence of payment of three years tax to the Lagos State Government.
Okunnu also ordered Abulude to report once in a month at the EFCC office in Lagos throughout the duration of the case.
She adjourned the matter till June 5 for trial.