Court grants man N10m bail over alleged N20m forex fraud
An Ikeja Special Offences Court on Wednesday granted bail in the sum of N10 million to a man, Solomon Idonije, charged with an N20 million foreign exchange fraud.
The News Agency of Nigeria (NAN) reports that Justice Oluwatoyin Taiwo in her ruling, held that the court was inclined to grant bail to the defendant.
Taiwo, thereafter, admitted the defendant to bail in the sum of N10 million with two sureties in like sum.
She ruled that one of the sureties must be a Grade Level 15 civil servant in Lagos, while the other must be a close relative of the defendant.
The judge said both sureties must reside in Lagos and must produce evidence of three months tax payment to Lagos State.
Taiwo ordered that the defendant would remain at the Ikoyi Correctional Centre pending the perfection of the bail conditions and adjourned the case until Sept. 27 for the commencement of trial.
Earlier, the defence counsel, Mr Jonathan Okiogbero, moved the bail application for his client, arguing that the alleged offence was bailable.
The Economic and Financial Crimes Commission (EFCC) counsel, Mrs Orhieoghene Adewunmi, who held the brief for Gabriel Akaogu, opposed the bail application, arguing that the defendant constituted a flight-risk.
The News Agency of Nigeria (NAN) reports that the EFCC on July 4 arraigned the defendant on a seven-count charge bordering on obtaining money by false pretence contrary to Section 1(1) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
The EFCC alleged that Idonije on Dec. 21, 2020, in Lagos obtained the sum of N4.8 million from Iyen Omowuiugbe for Forex Trade through Solomon Ace Forex Investments.
The anti-graft agency also alleged that Idonije on Dec. 23, 2020, in Lagos, obtained N4.1million from Omowuiugbe.
The defendant, however, pleaded not guilty to the charge. (NAN)
