N3.1b Money Laundering: Court Grants Okorocha N500m Bail, Sets November 7 for Trial
Justice Inyang Ekwo of the Federal High Court, Abuja on Tuesday, May 31, 2022, granted bail to a former governor of Imo State, Senator Rochas Okorocha.
Okorocha was arraigned on Monday, May 30, 2022, alongside Anyim Nyerere (a.k.a Anyim Chinenye), Naphtali International Ltd, Perfect Finish Multi Projects Ltd, Consolid Projects Consulting Ltd, Pramif International Ltd and Legend World Concepts Ltd on 17-count charge of stealing, conspiracy and money laundering to the tune of N3,147,000,000.00(Three billion, One Hundred and Forty Seven Million Naira).
At today sitting, counsel for the first defendant, Oke Amaechi, SAN, prayed the court to grant the defendant bail, arguing that it is his constitutional right.
But counsel for the prosecution, Cosmos Ugwu had opposed the bail application on the grounds that the first defendant did not keep the terms of the administrative bail granted him by the Commission.
In granting the bail, Justice Ekwo stated that granting bail was the discretion of the court. The judge then granted the first defendant bail in the sum of N500m with one surety.
The surety must be a responsible citizen and own landed property, with verified Certificate of Occupancy within the jurisdiction of the court. The C of O of the property and the international passport of the first defendant are to be deposited in the court registry. The first defendant will also not travel without the permission of the court.
Furthermore, Justice Ekwo ordered that the second defendant should continue with the terms of the administrative bail offered to him by the EFCC.
The case was adjourned till November 7, 8, 9, 10, and 11for commencement of trial.