Abayomi, a resident of Yaba area of Lagos, is facing a three-count charge of conspiracy, theft and obtaining by false pretences.
Osungbure said that the complainant made the report at the police station after suspecting that the defendant had defrauded him.
The prosecutor said the offences contravened Sections 314 (3), 287 and 411 of the Criminal Laws of Lagos State, 2015 (Revised).
The News Agency of Nigeria (NAN) reports that Section 314 is punishable by 15 years imprisonment for obtaining by false pretences while 287 stipulates three years imprisonment for the offence of theft.
He, however, pleaded not guilty to the charge.
The Chief Magistrate, Mrs Adeola Adedayo, admitted the defendant to bail in the sum of N500, 000 with two sureties in like sum.
She further directed that both sureties must be residing within the court’s jurisdiction and be gainfully employed with evidence of three years tax payment to the Lagos State Government.
Adedayo instructed the defendant to deposit her international passport with the court and the prosecutor to swear an affidavit of verification.
She adjourned the case until April 12 for mention. (NAN)