Court Grants Okorocha N500m Bail After Being Arrested Over Alleged N2.9bn Fraud

A Federal High Court in Abuja has granted former Imo State Governor, Senator Rochas Okorocha, bail in the sum of N500 million with one surety in like sum.

Rochas Okorocha Granted Bail

KaniDaily recalls that the lawmaker was arrested and arraigned on a 17-count charge of money laundering to the tune of N2.9 billion filed against him by the Economic and Financial Crimes Commission (EFCC).

Okorocha was arraigned alongside Anyim Chinenye, a chieftain of the All Progressives (APC) and five companies — Naphtali International Limited, Perfect Finish Multi Projects Limited, Consolid Projects Consulting Limited, Pramif International Limited, and Legend World Concepts Limited.

During their arraignment, the former governor, the second defendant – Anyim Chinenye, and the companies indicted all pleaded not guilty to the charges.

During the court session on Tuesday, Solomon Umoh, who moved Okorocha’s bail application, prayed the court to grant his client bail on liberal terms.

Ruling on the bail application, Ekwo held that the circumstances and conduct of the first defendant (Okorocha) will deter the court from granting him customary bail conditions.

Ekwo ordered that Okorocha’s surety must be a responsible citizen with a landed property in the like sum of the bail granted.

The judge also directed Okorocha to deposit his international passport with the registry of the court and should not travel outside the jurisdiction of the court without the court’s permission.

Similarly, he ordered the court registry to inform the Nigerian Immigration Service that Okorocha’s international passport was in its custody.

The judge added that the former governor should remain in the custody of the EFCC until his bail conditions are met.

Ekwo, who also granted Okorocha’s co-defendant, Anyim Chinenye, a bail in the terms of the administrative bail earlier granted to him by the EFCC, adjourned the matter until Nov. 7, Nov. 8, Nov. 9, Nov. 10, and Nov. 11 for trial.

This means that if Okorcha fails to perfect his bail conditions today, he will miss out on the screening of presidential candidates by the All Progressives Congress (APC) which ends today.

Meanwhile, Rochas Okorocha has denied reports that he sued the EFCC and demanded N1bn damages over the invasion of his home in Abuja.