Two employees of Cloud 7 Lounge, Taiwo Aponmade, 42 and Yusuf Qaudri, 24, were on Tuesday arraigned before an Iyaganku Chief Magistrates’ Court, Oyo State, for allegedly stealing N80 million from their employer.

The defendants, whose addresses were not provided, were arraigned on a two-count charge bordering on conspiracy and stealing, to which they, however, pleaded not guilty.

The Prosecution Counsel, Inspector Sikiru Opaleye, told the court that the defendants conspired with others now at large to commit the offences.

Mr Opaleye said that the defendants, sometime in 2023 and on October 27, 2024 at Cloud 7 Lounge, Old Bodija, Ibadan, stole N80 million, being proceeds from the sales of assorted drinks.

He said that the duo fraudulently converted the said sum to their own use without the consent of the owner, Damilola Olaoye.

According to him, the offences are contrary to Section 383 and punishable under Sections 390(9) and 516 of the Criminal Code Laws of Oyo State, 2000.

The Defence Counsel, Messrs Jubril Kareem and Adewale Oluwusi, asked for bail for their respective clients on liberal terms.

The Chief Magistrate, Olabisi Ogunkanmi, admitted the defendants to bail in the sum of N 10 million each, with two sureties each in like sum.

Ogunkanmi said that the sureties must reside within the court’s jurisdiction and that one of them must be an owner of a landed property, while the other must be a family member of the defendants.

She, thereafter, adjourned the matter till April 8, 2025 for hearing.

(NAN)