Mr Adeniji had pleaded not guilty to a one-count charge of fraud preferred against him.
The defendant was admitted to N200,000 bail, with one surety in like sum.
Police prosecutor told court that Mr Olayera unlawfully had in his possession one locally-made cut-to-size single barrel gun.
The stolen flat-screen TV, stabiliser and other valuables are valued at N1.4 million.
The accused and others at large cheated the victim of N100,000 under the guise of helping him to secure employment.
The defendants were caught issuing forged Oyo government tickets and documents to unsuspecting motorists.
