The Ikeja Special Offences Court has granted Solomon Idonije bail of N10 million over a N20 million foreign exchange fraud.
Justice Oluwatoyin Taiwo, granted the bail on Wednesday after Idonije’s counsel moved the application for bail.
Justice Taiwo held that the court was inclined to grant bail to the defendant hence, she admitted the defendant to bail in the sum of N10 million with two sureties in like sum.
In December 23, 2020, Idonije allegedly collected another N4.1million from the complainant.
Idonije was charged with obtaining money under false pretences, an offence which contravenes sections 1(1) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
On July 4, he was arraigned on a seven-count charge bordering on obtaining money by false pretense contrary to Section 1(1) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Upon his arraignment, he pleaded not guilty to the charges proffered against him by the anti-graft agency.
On June 5, the judge ordered his remand in the custody of the Economic and Financial Crimes Commission.
She adjourned the matter to July 13 for a hearing of the bail application.
At the resumed hearing on Wednesday, Mr Jonathan Okiogbero, the defence counsel, moved the bail application. He argued that the alleged offence his client was charged with was bailable.
Mrs Orhieoghene Adewunmi, EFCC’s counsel while opposing t the bail application argued that the defendant constituted a flight risk.
Ruling on the bail application, the judge held that the defendants must provide two sureties of which one must be a Grade Level 15 civil servant in Lagos, while the other must be a close relative of the defendant.
She said both sureties must reside in Lagos and must produce evidence of three months’ tax payment to the Lagos State government.
The judge also held that the defendant should be remanded at the Ikoyi Correctional Centre pending the perfection of his bail conditions.
She, therefore, adjourned the matter until September 27, for commencement of trial.