Oshatoba, who lives at No. 48, Ago Hausa St., Ajegunle in Lagos, is facing charges of conspiracy and stealing.
He, however, pleaded not guilty to the charges.
The prosecutor, Insp. Rukayat Ogundeji, told the court that the defendant committed the offences with some other persons currently at large on April 27, at Plot 22, Babs Animashaun Road, Surulere, Lagos.
Ogundeji said the defendant stole a set of knife equipment used in manufacturing shoes from Yiko Deen Foot Wear.
She said the offences contravened Sections 287 (5) and 411 of the Criminal Law of Lagos State, 2015.
The News Agency of Nigeria reports that Section 287 (5) stipulates a seven-year jail term for stealing from one’s employer, while Section 411 provides two years’ imprisonment for conspiracy.
The chief magistrate, Mrs T.O. Abayomi granted the defendant bail in the sum of N100, 000 with two sureties each in like sum.
Abayomi said the sureties should be gainfully employed and show evidence of tax payments to the Lagos State Government.
The case was adjourned until May 27 for mention.