A 46-year-old man, Allen Macaulay, was on Monday arraigned before a Chief Magistrates Court in Port Harcourt, Rivers State for alleged theft.
Macaulay, a business man allegedly stole marine equipment valued at over N4m, property of Fymark Marine and Oil Services Company Nigeria Limited.
A document obtained from the court alleged that the suspect committed the offence at the company premises at the Government Reservation Area (GRA) of Port Harcourt, in March, 17.
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He pleaded not-guilty to the two-count charge of theft and unlawful conversion of properties slammed on him and was granted bail with a surety.
Granting the suspect bail, the presiding magistrate Sokari Andrew-Jaja said the surety must be a renowned business man or a worker in the rank of manager in a reputable company who must be resident in Port Harcourt and must present evidence of tax payment of the last three years and must deposit a cash sum of N300,000 with the registrar of the court.
Macaulay was represented by in the court by a lawyer.
The case was adjourned till February 6, for hearing.
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