The defendants are Tunde Yusuf, 49; Ikechukwu Joseph, 52; Adeboye Bakare, 51 and Yinka Daniel, 34.
The defendants whose addresses were not given, are facing a three-count charge of conspiracy, stealing and receiving stolen property.
They, however, pleaded not guilty.
The prosecutor, Supol Josephine Ikare, told the court that the defendants and some still at large committed the offences on Feb. 25, at Ayobo area in Lagos.
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Ikare said the defendants stole a 40-foot container loaded with food items belonging to Mrs Abimbola Lambo worth N150 million.
She the offences contravened Sections 287(7)(8)of the Criminal Laws of Lagos State, 2015.
The Magistrate, Mr L.A Owolabi, granted the defendants bail in the sum of two million naira each and two sureties each in like sum.
Owolabi added that the sureties must be residents within the court’s jurisdiction and show evidence of three years’ tax payment to the state government.
He, however, adjourned the case until June 3 for hearing.
