A 50-year-old man, Adedokun Ayinde, on Wednesday appeared before a Magistrates’ Court in Isabo, Abeokuta, Ogun State, for allegedly stealing a Toyota RAV4 car valued at N40million and unlawful possession of firearm.

Ayinde, whose address was not provided, is facing a two-count charge of stealing and unlawful possession of firearm.

He pleaded not guilty to the charges.

The Prosecutor, ASP Lawrence Olu-Balogun, told the court that the defendant committed the offences sometime in April 2025 at Obantoko, in Abeokuta.

Mr Olu-Balogun said the defendant fraudulently stole a Toyota RAV4 Jeep belonging to the complainant, Segun Faniran.

According to the prosecutor, Ayinde was entrusted by the owner, Faniran, to sell a 2020 Toyota RAV4 Jeep with chassis number 2T3H1RFV3LW079915 valued at N40,000,000.

He alleged that the defendant dishonestly sold the car without the owner’s consent and fraudulently converted the proceeds to his personal use.

The prosecutor further told the court that efforts made to recover the proceeds from the defendant were unsuccessful.

He also alleged that Ayinde and others still at large were on June 19, arrested at Abijo GRA, Ajah, Lagos, in possession of a fabricated pistol without lawful authority or licence.

The prosecutor said the offences contravened the provisions of Section 390 (9), 390(10) (a) Criminal Code Laws of Ogun 2006 and Section 3 (1) (2) of the Firearms Act, Cap F28 Laws of Federation of Nigeria 2004.

The Chief Magistrate, A.K Araba granted the defendant bail in the sum of N5 million with one surety in like sum.

Araba ordered that the surety must be a registered bondsman with the Ogun State Judiciary.

She also ordered that Ayinde be remanded at the Ibara Correctional Centre pending the perfection of his bail conditions.

She adjourned the case until July 21, for hearing.

(NAN)