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Former Finbank boss granted N50m bail

By Innocent Anaba & Abdulwahab Abdulah
An Ikeja High Court, yesterday, granted bail in the sum of N50 million with two sureties to the detained former Managing Director of Finbank Plc, Mr. Okey Nwosu,  who is  standing trial over alleged stealing of N10.9 billion belonging to the bank.

This came as a Federal High Court sitting in Lagos, yesterday,  ordered the Economic and Financial Crimes Commission, EFCC, to forthwith,  release him (Nwosu)

Also granted bail were Mrs. Agnes Ebubedike, Mr. Danjuma Ocholi and Dayo Famoroti, who were said to be directors of the bank.

The Ikeja court also barred the accused persons from traveling out of the country until they get express permission from the court.  The court ordered them to deposit their international passport and other traveling documents with the court’s registrar.

One of the sureties, according to the court, must own a property worth N50million in either Lagos or Abuja, with both sureties resident in Lagos or Abuja and must be in the Federal Civil Service or in the employment of the Lagos State and not below Grade Level 14.

The Federal High Court order was sequel to an  ex-parte application by Okey Nwosu through his counsel. The court ordered the release of Nwosu on a reasonable bail condition without prejudice to the right of the commission  to amend the charge against him if any other offence is disclosed against him.


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