Alleged N2.9bn Fraud: Court Grants N500m Bail To Okorocha

Former Governor of Imo State, Rochas Okorocha has been granted N500 million bail.

Ezenwoko’s Blog reports that Justice Inyang Ekwo of the Federal High Court in Abuja granted Okorocha bail on Tuesday during his arraignment over alleged N2.9bn corruption charges.

The Economic and Financial Crimes Commission (EFCC) had earlier arraigned Okorocha, an ally to the former governor, Anyim Nyerere Chinenye and five companies on a 17-count money laundering charge.

In his ruling, Justice Ekwo approved the bail application of both Okorocha and Chinenye and thereafter granted them bail.

The presiding judge also ordered Okorocha to provide a surety, who will sign and of the same amount.

Justice Ekwo, however, fixed November 7 for the commencement of the former governor’s trial.

Recall that the nation’s anti-graft agency last week forcefully broke into the Abuja residence of the Senator representing Imo-West.

The EFCC had forcefully invaded the premises, using teargas to disperse journalists from the compound. The commission accused Okorocha of refusing to honour invitations to him after jumping the administrative bail granted to him following allegations of stealing public funds to the tune of 2.9 billion Naira.