A 46-year old man, Saheed Adebayo, was on Monday docked before an Iyaganku Magistrates’ Court in Ibadan over an alleged N3.2 million fraud.

Adebayo, with no fixed address, is being charged with stealing, to which he pleaded not guilty.

The Police Prosecutor, Insp Femi Oluwadare, told the court that the defendant committed the offence between June 30 and Dec. 2022, at Kuola, Ibadan.

He said Adebayo was engaged to supervise six commercial motorcycles belonging to the complainant, Ayomikun David.

Oluwadare further said the six motorcycles valued N3.2 million, were given to motorcyclists with an agreement to make daily returns to the complainant through Adebayo.

The prosecutor said the defendant refused to give the returns to the complainant and owner of the business but converted the money for his personal use.

He said the offence contravened Section 390(9) of the Criminal Laws of Oyo State, 2000.

The Magistrate, Mr Maruff Mudashiru, granted the defendant bail in the sum of N1 million with two reliable sureties in like sum.

Mudashiru adjourned the case until August 12, for hearing.