A Federal High Court sitting in Abuja has granted bail to the oil magnate, Jide Omokore and others in the sum of N50m each with one surety in like sum. The suspects were arraigned on Monday by the Economic and Financial Crimes Commission before Justice Binta Nyako of the Federal High Court, Abuja alongside their companies, Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concepts Limited.
The accused persons are standing trial on nine count charges of money laundering to the tune of $1.6 billion. After their pleas were taken, lawyers to the accused ask the court to grant their clients bail on favourable terms. The prosecution counsel did not oppose the bail application, but asked the court to stipulate terms that will compel the defendants to continue to attend trial.
Justice Nyako ordered that all the sureties to the accused persons should depose to affidavit of means while the defendants are to deposit all their passports with the court.