Three men have been arraigned before a magistrate’s court sitting at Ebute Metta, Lagos State, for allegedly breaking into a company and stealing goods estimated at N48.5m.

The defendants, Okoye Abuchi, 20; Kalu Friday, 42; and Kalu Godswill, 24, were arraigned on two counts of conspiracy and stealing.

The charges read, “That you, Okoye Abuchi, Kalu Friday, and Kalu Godswill, and others now at large, on April 16, 2022, around 01.30am at Viramsum Company, Abimbola Way, Isolo, Lagos, in the Lagos Magisterial District, did conspire among yourselves to commit felony, to wit: breaking into a building, thereby committing an offence contrary to and punishable under Section 411 of the Criminal Law of Lagos State of Nigeria, 2015.

“That you did break into the warehouse and steal 192 bags of Resin raw materials, valued at N48,563,125, property of Viramsum Nigeria Limited, represented by Mr Rotimi Oseni, thereby committing an offence contrary to and punishable under Section 309(1)(2) of the Criminal Law of Lagos State of Nigeria, 2015.”

The three defendants pleaded not guilty.

The Magistrate, Kayode Alamu, granted them bail in the sum of N1m each with two sureties in like sum.

The case was adjourned till May 30.