Alleged N52m fraud: Ladipo market leader granted bail

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  AfricCon Latest Nigerian Report:Alleged N52m fraud: Ladipo market leader granted bail
  Africcon Media, NigeriaFrom: Africcon Media – Nigeria
  
  President of Aguiyi Ironsi Market, popularly known as Ladipo Market, Jonathan Okoli, who is standing trial for an alleged N52m fraud, was on Monday granted bail.
  
  Justice Olabisi Akinlade, who granted Okoli bail in the sum of N5m with two sureties in like sum, however, warned that she would revoke the bail if there were proofs linking him to problems.
  
  Okoli was arraigned on April 22 by the Economic and Financial Crimes Commission on three counts of obtaining money by false pretences and stealing.
  
  EFCC’s prosecuting counsel, Mr Anslem Ozioko, had alleged that the accused had between 2009 and 2010, obtained a total sum of N52m from members of Aguiyi Ironsi International Market Traders Union.
  
  Ozioko had said the money was entrusted to Okoli for the payment of Trade Permits and Auto Dealers fees by members of the association.
  
  Granting the accused bail on Monday, Akinlade ordered that the sureties to be provided by the accused must be resident in Lagos State and must also depose to an affidavit of means.
  
  The judge further directed that one of the sureties must own a landed property in Lagos State.
  
  “Both sureties must produce three years tax clearance payable to the Lagos State Government which should be verified by the Lagos State Internal Revenue Services.
  
  “The accused must give an undertaking to be of good behaviour and must not go to the market to cause trouble.”
  
  She adjourned the matter till July 2 for trial.
  
  Ozioko had alleged that the accused fraudulently diverted the money instead of making the payments to the Lagos State Government and Mushin Local Government Area.
  
  According to him, Okoli’s alleged offence had contravened Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006.
  
  Ozioko said it also contravened Section 390(8) (b) and (9) of the Criminal Code Laws of Lagos State of Nigeria 2003.