The Oyo State Police Command on Friday brought one Ogunsanmi Akolade, 42, before an Iyaganku Magistrate’s Court for allegedly receiving a stolen Toyota Camry valued at N2.5 million.
Akolade of no fixed address is charged with receiving stolen property.
The defendant, however, pleaded not guilty to the charge.
Earlier, the prosecutor, Inspector Toyin Ibrahim, informed the court that Akolade committed the offence on January 15 at 7.00pm on the Lagos-Ibadan Expressway.
Ibrahim alleged that the defendant received the Toyota Camry from one Chibuzor Esomonu.
The prosecutor said the defendant knew that the car was stolen from its owner, Mr Johnson Ojo.
He said the offence contravened Section 427 of the Criminal Laws of Oyo State, 2000.
The Magistrate, Mrs Oluwabusayo Osho, granted the defendant bail in the sum of N500,000 with two sureties in like sum.
Osho adjourned the case until February 15, for hearing.