Police from Force Criminal Investigation Department (ForceCID) annex, Alagbon-Ikoyi, has arraigned the Chairman of NEM Insurance company, Chief Adewale Teluwo on charges bordering on conspiracy and wilful destruction of property.

The insurance guru was arraigned today, before Yaba Chief Magistrate Court on the alleged offences.

The prosecutor, Morufu Animashaun, while arraigning the defendant before the court presided over by Magistrate O. Y. Adefope, told the court that the defendant committed the offences around Mile 12, Area of Owode-Onirin, Lagos, on November 25, 2021.

He told the court that the defendant, and others now at large wilfully destroyed the perimeter fence of the aforementioned property belonging to one Isiaka Akande Abdullahi.

The prosecutor told the court that the offences committed by the defendant contravened sections 411 and and 340 of the Criminal Law of Lagos state 2015, and punishable under the same sections.

The defendant pleaded not guilty to the charges.

Upon his not guilty plea, the prosecutor, Barrister Animashaun, asked the court to remand the defendant till the determination of the charge.

But counsel to the defendant, S. O. Ogunbiyi and M. Jackson, pleaded with the court to admit their client to bail in the most liberal terms. The lawyer told the court that their client is a first time offender with credible surety to stand for him.

Magistrate Adefope admitted bail to the defendant in the sum of N100, 000, with one response surety in like sum.

The Magistrate ordered that the prosecutor should verified the bail terms, while adjourning the matter till June 21, for mention.

Charges against the insurance guru read: “That you Chief Adewale Teluwo with others (now at large) on or about the 25th November, 2021 around Mile 12, Area of Owode-Onirin, Lagos, in the Lagos Magisterial District, conspired amongst yourselves to commit a Felony to wit Unlawful Interference with Property and thereby committed an offence contrary to Section 411 of the Criminal Law of Lagos state 2015.

“That you Chief Adewale Teluwo with others (now at large) on or about the 25th November, 2021 around Mile 12, Area of Owode-Onirin, Lagos, in the Lagos Magisterial District, destroyed the perimeter fence of the aforementioned property belonging to one Isiaka Akande Abdullahi and thereby committed an offence contrary to and punishable under Section 340 of the Criminal Law of Lagos state 2015.”