The Federal High Court in Lagos, on Thursday, granted N10m bail to a businessman, Kenneth Ugwu, over alleged N7m fraud.
Justice Mohammed Kala, in his ruling on the bail application, admitted the defendant to bail in the sum of N10m, with two sureties in like sum.
Ugwu is standing trial on two counts of alleged stealing and obtaining by false pretences.
He was accused of allegedly obtaining the sum of N7m, from one Cosmos Ugwuanyi under the false pretence that he was an importer of curtain material, a representation he knew to be false.
Earlier, when the matter came up for trial, the police prosecutor, Nosa Uhumwangho, told the judge that he had a two-count charge pending before the court and urged it to allow the charge to be read so that the defendant could take his plea.
Consequently, the charge was read and the defendant pleaded not guilty to the same.
The police alleged that Ugwu committed the offences on September 7, 2022.
According to the police, the offences committed are punishable under Section 1 of the Advance Fee Fraud and Other Related Offences Act 2006 and Sections 390 (8)(c)&(9) of the Criminal Code, Cap C38, Laws of the Federation of Nigeria, 2004 (as amended).
Following his not-guilty plea, the prosecutor asked for a trial date and the remand of the defendant in the facility of the Nigeria Correctional Service.
However, the defendant’s counsel in his submission told Justice Mohammed Kala of the bail summons filed on behalf of the defendant and urged the court to allow him to proceed with the same.
Moving the bail summons, the defendant’s counsel urged the court to admit bail to the defendant in liberal terms stating that the defendant was ready to face his trial and would not jump bail.
The prosecution in his submission urged the court to refuse the application in that if granted, the defendant would not come back for his trial.
Uhumwangho told the court that the defendant’s family was already in Canada and that he had concluded plans to travel out of the country.
He said, “My Lord, as we leave the bail to the discretion of the court, I just want to bring it to your attention that as we speak, the defendant has already concluded to leave the country.
“As we speak his family is in Canada, that’s why I wanted to file a counter.”
The judge ordered that one of the sureties must be a civil servant within the jurisdiction of the court and must not be lower than grade level 13, while the second surety must be a landed property owner within the justification of the court and must provide proof of ownership of the property.
Justice Kala also ordered that the two sureties must submit two recent passport photographs each while all the claims are to be verified by the court registrar.
The case was adjourned till October 29, 2024, for trial.