An Igbosere Magistrates’ Court in Lagos on Thursday slammed a N20 million bail each on the two accountants of
Prime Alpha Petroleum Ltd for allegedly stealing the company’s N143.3 million.
The accused — Patrick Akpotor, 62, and Evuikowhiroro Omaghomi, 40 — are being tried for conspiracy and stealing.
The duo pleaded not guilty to the charges.
The Magistrate, Mr A. A. Adefulire, who gave the ruling, directed the accused to produce two sureties each who must be gainfully employed.
Adefulire said one of the sureties must be a civil servant of not less than Grade Level 12.
In addition, he said the civil servant must present a letter from the State Head of Service, while both sureties must show evidence of tax payment
to the Lagos State Government.
Police Prosecutor Charles Odii had told that they committed the offences between January 2011 and December 2016 at Prime Alpha Petroleum
Ltd at Engineering Close, Victoria Island.
According to him, the accused conspired with others at large to steal their employer’s N143.3 million.
“Akpotor as an accountant of Prime Alpha Petroleum used his position and falsified figures in the record of the company,’’ he said.
The offences contravened Sections 287 (7), 335 (a) and 411 of the Criminal Law of Lagos State 2015.
That Section 287 (7) prescribes seven years imprisonment for offenders, while Section 411 provides two years.
Further hearing in the case was adjourned until May 22.