The Police in Lagos on Wednesday arraigned a 43- year-old man, Joseph Balogun, in an Ikeja Chief Magistrates’ Court for allegedly stealing a N2.5million  Volkswagen bus.

The defendant, a driver whose address was not mentioned, is charged with conspiracy and stealing.

The prosecutor, Insp John Iberedem, told the court that the offences were committed on May 29 at Atere Street, Dopemu, Agege, Lagos.

Iberedem said that the defendant obtained the bus with Registration  No: APP 668 XZ valued N2.5 million on hire purchase from the complainant, Mr Kehinde Olamide.

He said that the accused agreed to the money  back in installments.

Iberedem alleged that Balogun fraudulently converted some undisclosed amount of money being the sales proceeds from the commercial bus, without the consent of the owner.

The prosecutor said that since then, the defendant disappeared with the bus with all efforts made to get it back failed.

According to the prosecutor, the offences contravened Sections 287 and 411 of the Criminal Law of Lagos State, 2015.

The defendant, however, pleaded not guilty to the charges.

The Chief Magistrate, Mrs E. Kubeinje, granted the defendant a bail of N300, 000 with two sureties in like sum.

She said that they should provide evidence of tax payment and verification.

Kubeinje adjourned the case until July 18, for mention.

(NAN)