A Federal High Court in Lagos has granted a businessman, Kenneth Ugwu, bail in the sum of N10 million over allegations of a N7 million fraud.
The ruling was delivered on Thursday by Justice Mohammed Kala, who set the bail conditions, including two sureties in the same amount.
Ugwu is facing a two-count charge of stealing and obtaining by false pretences. According to the police, he allegedly defrauded Cosmos Ugwuanyi by falsely claiming to be an importer of curtain materials, a claim Ugwu knew to be untrue. The alleged offence took place on September 7, 2022.
When the case was brought to trial, the police prosecutor, Nosa Uhumwangho, read the charges to the defendant, who pleaded not guilty. Following his plea, the prosecutor requested a trial date and urged the court to remand Ugwu in custody, expressing concerns that the defendant might flee the country, as his family was reportedly already in Canada.
In response, Ugwu’s counsel applied for bail, assuring the court that his client had no intention of absconding and was prepared to face trial.
Justice Kala granted the bail with strict conditions, including that one surety must be a civil servant not lower than grade level 13, and the second surety must own landed property within the court’s jurisdiction. Both sureties are required to provide passport photographs and have their claims verified by the court registrar.
The case was adjourned to October 29, 2024, for trial.
