A FEDERAL High Court in Lagos has granted a 3.1 million US dollar bail, the equivalent of 500 million naira, to
oil marker Samuel Owa and a cargo surveyor, Onassis Wajutom.
The duo were arraigned on June 18 with fraud related to the abuse of the subsidy guarantees of the federal government. Although the men pled not guilty when they were arraigned, the trial judge, Justoce Ibrahim Buba ordered that the accused be detained at the Ikoyi Prisons until their bail application.
At the resumed hearing of the case, counsel to the first and second accused, Mr Joseph Nwobike, a Senior Advocate of Nigeria, in urged the court to grant his client bail on liberal terms.
He informed the court that the accused had no past criminal record and had always made himself available to the Special Fraud Unit upon invitation. Nwobike argued that the whole essence of the bail was to secure the attendance of the accused in court, adding that “the law provides that an accused is presumed innocent, until his guilt is established.
’’ He therefore urged the court to exercise its discretion judiciously and admit the accused to bail on liberal terms. Counsel to the third and fourth accused, Mr Sylvester Ekwueme, also aligned himself with the submissions of the learned SAN and also urged the court to grant his clients bail on favourable terms.
Meanwhile, the prosecutor, Mr Daniel Abdulahi, adopting his counter affidavit, urged the court to refuse the bail application and order that the accused be remanded. Abdulahi argued that after the accused persons were granted police administrative bail, they failed to provide a reliable surety, and so should not be granted bail by the court. Ruling on the bail application, Justice Buba said he was satisfied with the affidavit deposed to by the accused that they would stand trial.
“The charge before this honourable court is a serious one as it touches on advanced fee fraud.
“The court has seen it and appreciates the gravity of the offence. “However, the provisions of sections 36 (5) of the 1999 Constitution of the Federal Republic as amended, still avails the accused.
“From the affidavit evidence before this court, I am satisfied that the accused will appear to stand trial.
“The second and third accused are hereby granted bail in the sum of N500 million with two sureties in like sum who must depose to an affidavit of means. “The accused are also to deposit their international passport with the registrar of the court, and also file an undertaking not to delay court proceedings, I so hold,’’ Buba ruled.
The judge, however, ordered the accused to be remanded in custody, pending the perfection of their bail. The judge adjourned the case to June 24 for continuation of trial. The prosecutor had alleged that the accused fraudulently obtained N1.7 billion from the FG, with the claim of having imported and discharged 15, 000 metric tonnes of Premium Motor Spirit, otherwise known as petrol.