The Economic and Financial Crimes Commission has arraigned one Ikenna Okoro over a N25 million scam.
The fraudster was arraigned before Justice I.M. Bukar of an FCT High Court sitting in Maitama, Abuja, on a two count charge bordering on misappropriation of N25 million.
The accused person pleaded not guilty to the charges when read to him.
Thereafter the defence counsel, Reuben Okoro, prayed the court to grant the accused person bail on the grounds that the offense for which he is being held is bailable.
Prosecution Counsel, Adekunle Aderinto, opposed the application for bail, arguing that such an application should not be presented before the court orally.
He said he was ready to pick a date for the commencement of trial.
Bukar however granted the accused person bail in the sum N500,000 and one surety in like sum.
The surety, who must be a civil servant, must have a landed property in Abuja.
The judge thereafter adjourned the case to July 23, 2012.
Count 1 of the charges reads:
“That you Ikenna Okoro ‘M’ on or about April 2009 in Abuja, within the Abuja Judicial Division being entrusted with the sum of N25, 000,000.00 Naira by one Dr (Mrs) Adah Okwuosa, as a broker /agent did dishonestly misappropriate and converted the said money to your own use and thereby committed an offense punishable under section 315 of the penal code, Cap .532 Laws of the Federal Federation of Nigeria (Abuja) 1990.”
Counts 2 reads:
“That you Ikenna Okoro ‘M’ on or about the 4th of September 2009 in Abuja within the Judicial Division did issue an Oceanic Bank Plc Cheque number 26009465 in the sum of N25, 000,000.00 to one Dr (Mrs)Adah Okwuosa which cheque was dishonoured upon presentation for reasons of insufficient fund and thereby committed an offence contrary to section 1(1)(b) of dishonoured cheques (offences) Act, CAP.D11 Laws of the Federation of Nigeria 2004 and punishable under section 1(1)(i) of the same Act.”