An Abuja Federal High Court today, Thursday, July 9, has granted former Governor of Imo State, Ikedi Ohakim, bail in the sum of N270 million.
Former Governor of Imo State, Ikedi Ohakim, who is being prosecuted for N270 million fraud allegedly perpetrated in 2008, has been granted a bail in the sum of N270 million in a ruling by Justice Adeniyi Ademola, at the Federal High Court in Abuja on Thursday, July 9.
Ohakim is to produce a surety resident in Abuja to guarantee the bail.
The Justice also ordered the prosecuting agency, the Economic and Financial Crimes Commission (EFCC) to submit the passport and other travel documents seized from the former governor to the Deputy Chief Registrar of the court.
The EFCC had on Wednesday arraigned Ohakim on three counts of fraud, including making cash payment of $2.29m (N270m) for a property in Asokoro, Abuja. The prosecution also accused the former governor of collaborating with Tweenex Consociates H.D. Ltd. to conceal the ownership of the property by drafting an agreement portraying him as a tenant in the property.
The Imo governor between May 2007 and May 2011, was also accused of failing to declare the property as part of his assets while under EFCC arrest in November 2008. The offences were allegedly committed in 2008 in violation of section 15(1)(d) and section 14(1)(b) of the Money Laundering (Prohibition) Act, 2004, respectively.