The Ikeja Chief Magistrates’ Court on Friday remanded two men, Abdulrazaq Ibrahim and Amusa Fatai, over the alleged theft of PVC material valued at N85 million.

Mr Ibrahim, 42, and Fatai, 36, are being charged with conspiracy, stealing and receiving stolen property, to which they pleaded not guilty.

The prosecutor, Josephine Ikhayere, said the defendants, and others now at large, committed the offences at about 7:00 a.m. on October 20, 2025, along the Ibadan Expressway.

Ms Ikhayere said the defendants stole 57,700 kg of PVC material valued at N85 million, belonging to the complainant, Samson Ogundimu.

She further said that Mr Ibrahim took part in the theft, while Mr Fatai received the items knowing they were stolen.

The prosecutor said the offences contravened Sections 280, 328 and 411 of the Criminal Law of Lagos State, 2015.

The chief magistrate, L.A. Owolabi, granted the defendants bail in the sum of N2 million each, with two responsible sureties in like sum.

He adjourned the case until February 26 for mention and ordered that the defendants should remain in custody pending the perfection of their bail conditions.

(NAN)