Breaking: Alleged N2.9bn Fraud: Okorocha Gets N500m Bail
Justice Inyang Ekwo of the Federal High Court Abuja has granted bail to a former Governor of Imo state, Owelle Rochas Okorocha, to the tune of N500m.
The former Governor is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a 17-count criminal charge bordering on financial impropriety.
Okorocha was the governor of Imo state from 2011 to 2019, presently a Senator representing Imo west in the National Assembly.
Also docked alongside Okorocha, were Anyim Nyerere Chinenye, Naphtali International Limited, Perfect Finish Multi Projects Limited, Consolid Projects Consulting Limited, Pramif International Limited, and Legend World Concepts Limited.
Okorocha was arraigned on Monday, May 30 by the EFCC.
Part of the documents filed in court by the EFCC showed how the Senator awarded 12 contracts worth N20 billion in violation of the public procurement act.
Court processes also stated how a government committee uncovered the sum of N112.8billion “dubious debts” which various banks owed the state during Okorocha’s tenure.
When the charge was read to him on Monday, the former governor, said: “I understand the charge against me, but I am not guilty my lord”.
All the other defendants also pleaded their innocence to the charge dated January 24.