Alleged N2.9bn Fraud: Court grants Okorocha N500m bail

The Abuja Division of the Federal High Court admitted Rochas Okorocha to N500 million bail with one surety.

Justice Inyang Ekwo, in a ruling, on Tuesday said granting bail was a discretionary power of the court.

Mr Ekwo said the surety, who must have a landed property within the court’s jurisdiction, must deposit the Certificate of Occupancy (C of O) of the verified property with the registry of the court.

While admitting the senator to bail with a cautionary statement, the judge ordered that his Nigerian passport be deposited in the court’s registry.

He ordered the court registry to inform the Nigeria Immigration Service (NIS) about the state of Mr Okorocha’s travel documents.

He further ordered the lawmaker not to travel outside the country except with the leave of the court.

Mr Ekwo also granted Okorocha’s co-defendant, Anyim Nyerere Chinenye, bail in terms of the administrative bail earlier granted to him by the Economic and Financial Crimes Commission (EFCC).

The judge adjourned the matter until November 7, 8, 9, 10 and 11 for the trial.

The development occurred after counsel for Mr Okorocha, Solomon Umo, and that of Mr Chinenye, Oba Maduabuchi, took the applications.

The Imo West senator, who is the first defendant, was arraigned alongside Mr Chinenye, Naphtali International Limited, Perfect Finish Multi Projects Limited, Consolid Projects Consulting Limited, Pramif International Limited, and Legend World Concepts Limited as 2nd to 7th defendants, respectively.

He was alleged to have laundered N2.9 billion while serving as governor of Imo.