The prosecutor, Insp Ojugbele Kehinde, told the court that the defendant committed the offence between Nov. 2020, and Feb. 12, 2021, at IBEDC, Oke-Omiru, Ilesa Branch, Osun.
Kehinde said that the defendant unlawfully received five kegs of 25-litre transformer oil worth N2 million.
He said that the oil belonged to IBEDC.
The prosecutor said that the offence contravened Section 427 of the Criminal Code, Laws of Osun, 2002.
The defendant, however, pleaded not guilty to the one-count charge.
Defence counsel, Mr Olajide Agboola, prayed the court to grant his client bail in liberal terms, saying that he would not jump bail.
Chief Magistrate M.A. Awodele granted the defendant bail in the sum of N100,000 with two sureties in like sum.
Awodele said that the sureties must swear to affidavits of means and reside within the court’s jurisdiction.
He held that one of the sureties must be a second-grade traditional ruler or civil servant of grade level 10 or above.
She added that both sureties must have evidence of land ownership and three years’ tax payment.
The chief magistrate adjourned the case until Nov 15, for a substantive hearing.