Adamu Yakubu, 34, was charged with stealing diesel valued at N700,860 on Tuesday when he showed up before an Ikeja Magistrates' Court.
Yakubu is charged with two counts of stealing-related offences but his home address was not given.
To the charges, he, however, entered a not guilty plea.
Olusegun Kokoye, the prosecutor, testified in court that the offence was committed on October 24 by the defendant and other people still at large.
According to Sections 411 and 287 of the Lagos State Criminal Law of 2015, Kokoye said the offence was punishable.
The defendant was granted bail by Magistrate Sakirat Obasa in the amount of N100,000 with two sureties in the same amount.
Obasa said one of the sureties must be a relative of the defendant and have a verifiable residential address.
Obasa adjourned the case until Dec. 17 for mention.