The police charged the defendant, whose residential address was not given, with theft and wilful damage.
The Prosecution Counsel, ASP Kenneth Asibor, told the court that the defendant committed the alleged offense on Jan. 4, at 8 p.m. at No. 2/5, Ikotun Isolo Road, Ikotun, Lagos.
Asibor alleged that the defendant wilfully burnt an Isuzu truck with registration No. KJA 533 XY, worth N10 million, belonging to the complainant, Food Concept Pioneer.
The prosecutor also alleged that the defendant stole N180, 000 cash from the complainant.
The offense, he said, contravened the provisions of sections 287 and 350 of the Criminal Law of Lagos, 2015.
Section 287 provides three years imprisonment for offense of stealing while Section 350 provides two years imprisonment as punishment for offense of wilful damage.
The defendant pleaded not guilty to the charge.
Magistrate E. O. Ogunkanmi admitted the defendant to bail in the sum of N5 million with two sureties in like sum.
He ordered that the sureties must be gainfully employed and must show evidence of tax payment to the Lagos State Government.
Ogunkanmi adjourned the case until Feb. 10 for mention.