A Federal High Court in Osun on Thursday remanded two applicants, Omojua Olusola, 28 and Ogundele Ademola, 41, in Ilesa prison, pending perfection of bail conditions.
NAN reports that the police charged the defendants with two counts of conspiracy and fraud.
The Prosecutor, Mr Felix Okafor, had told the court that the defendants conspired with others, now at large, and defrauded one Uyi Osagiede of N34.5 million for sale of 3kg of gold.
Okafor said that the defendants committed the offence on April 15, at Ilesa, Osun.
He said the offence contravened the provisions of sections 1(1)(a)(3) and section 1(1)(c), punishable under section 1(3) of the advance free fraud and other related offenses, 2006.
Justice Peter Lifu, who admitted Olusola and Ademola to bail in the sum of N5 million each, ordered that the defendants be remanded behind bars until their bail conditions are met.
He also ordered the defendants to produce two sureties each in like sum who must provide evidence of tax payments.
The Judge ordered that one of the sureties must possess a Certificate of Ownership (C/O) to a land, while the other must be a civil servant on Grade Level 14.
Lifu adjourned the case until 25 May 2019 for hearing.