The lagos state zonal command of the Economic and Financial Crimes Commission, EFCC has Arraigned one Prof. Uche Chigozie Edwin, before Justice Nicholas Oweibo of the federal High court sitting in Ikoyi , Lagos for an alleged N1.4bn fraud.
Professor Edwin was arrested on Friday , March 16th 2023 alongside his companies, visionary integrated consulting Limited (NEMAD) Associates limited and Revamp Global Enterprise, on an 11 count charge bordering on conspiracy, retention and conversation of funds to the tune of N1,473,367,046.04 (One billion, four hundred and seventy three million, three hundred and sixty seven thousand, forty six naira, four Kobo.)
The accused pleaded not guilty to the 11 count charge.
In view of his plea , the prosection counsel C.C Okezie asked the court for a trial date and also prayed that the defendant be remanded.
The defence counsel,Mobolaji Akintude in response, made an application for bail on behalf of his client.
Akintude pleaded with the court to admit his client to bail and also for his remand in the EFCC custody pending the perfection of the bail if granted by the court.
In a short ruling Justice Oweibo admitted the defendant to bail in the sum of N1.M (One million Naira) and two sureties in like sum.
The sureties must possess landed property within the jurisdiction of the court, show tax clearance certificate of three months as well as their passport photographs .
The defendant was also ordered to deposit his passport with the court.
The case has been adjourned till June 27th 2023 for the commencement of trial.
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