A High Court sitting in Abia has granted former two-term Gov. Theodore Orji, his son, and three others bail in the sum of N50 million over an alleged N47 billion fraud.
By Leonard Okachie
A High Court sitting in Abia has granted former two-term Gov. Theodore Orji, his son, and three others bail in the sum of N50 million over an alleged N47 billion fraud.
The Economic and Financial Crimes Commission (EFCC) on Friday, arraigned the former governor, and his son, Chinedum, a former Speaker of the State House of Assembly, and Dr Philip Nto, a former Commissioner for Finance.
The others are a government contractor, Obioma King, and a former Director of Finance in the state, Romanus Madu.
The defendants are facing a 16-count charge related to the alleged misappropriation of N47 billion.
EFCC alleged that the defendants conspired to steal and converted about N47 billion meant for various state programmes as contained in the charge sheet No: HU/69C/2024.
The prosecution alleged that the defendants missapriopated N22. 5 billion, allocated as security vote from 2011 to 2015.
The prosecution told the court that the defendants allegedly stole N13 billion from a loan facility granted by Diamond Bank, as well as illegal conversion of N12 billion from the Paris Club refund.
The defendants are also being accused of committing unlawful act and abuse of office to the tune of the sum of N10. 5 billion, being the proceeds of the loan facility granted by First Bank Plc for the benefits of Abia Government.
The defendants also allegedly stole and converted the sum of N2 billion being the proceeds of the Central Bank of Nigeria Funds for Small and Medium Enterprises allocated to the state.
The defendants pleaded not guilty to the charges.
Justice Lilian Abai granted the defendants bail in the sum of N50 million and adjourned the case until June 18 and June 19, for prosecution to open its case.(NAN)
