The Economic and Financial Crimes Commission (EFCC) has secured the arraignment of a Group Managing Director facing allegations of fraud and money laundering involving about $600,000, as the Federal High Court in Enugu admitted the defendant to a stringent ₦200 million bail pending trial.
The defendant, who pleaded not guilty to the charges, appeared before Justice Folashade Giwa-Ogunbanjo of the Federal High Court, where the anti-graft agency declared its readiness to prove the allegations during trial.
Following the plea, counsel to the EFCC, Assistant Commander of the EFCC (ACE II), Rotimi Enitan Ajobiewe, urged the court to fix a date for trial and requested that the defendant be remanded in the custody of the Nigerian Correctional Service pending the determination of the case.
Counsel to the defendant, Roy O. U. Nwaeze, SAN, however, informed the court that a motion seeking bail had already been filed. He urged the court to grant his client bail, arguing that the application was properly before the court and should be considered pending the commencement of trial.
After hearing submissions from both parties, Justice Giwa-Ogunbanjo granted the defendant bail in the sum of ₦200 million with two sureties in like sum.
The court ordered that each surety must own landed property within the jurisdiction of the court as a condition for the bail. The judge further directed the defendant to surrender her international passport to the court registrar and ordered the EFCC to verify the identities, addresses and property documents of the proposed sureties within seven days before the bail could be perfected.
The case was thereafter adjourned to November 11, 2026, for the commencement of trial, where the EFCC is expected to open its case and present evidence in support of the allegations.