NAN-H-35
Bail
By Sandra Umeh
Lagos, Nov. 21, 2017 (NAN) Two men, Chester Ukandu and George Achi, were on Tuesday granted bail in the sum of N20 million each in Lagos, over alleged impersonation as Directors of Mainstreet Bank Registrars Ltd.
The Economic and Financial Crimes Commission (EFCC) charged the accused with of false representation as directors of the said bank in a Lagos Federal High Court.
Ukandu and Achi, however, pleaded not guilty to the charge.
In his ruling, Justice Mohammed Aikawa, ordered the accused persons to produce one surety each in like sum.
Aikawa held that the sureties must be owners of landed property in Victoria Island or Ikoyi or Lekki or Ikeja Areas of Lagos.
He said that they must deposit the original Certificate of Occupancy (C of O) to the property with the Deputy Chief Registrar of the court.
The judge added that the accused should report to the EFCC office on the first Monday of every month until the court decided otherwise or until the end of the matter.
He further said that both accused should sign undertakings not to delay trial of the case.
Aikawa, however, ordered the remand of the accused persons in prison pending the perfection of their bail terms and adjourned the case till Dec. 12.
The Prosecutor, Mr Ayokunle Fayaju, had urged the court to remand the accused persons in prison pending the trial because of the nature of the offence.
Fayaju said that both accused falsely held themselves out as directors of Mainstreet Bank Registrars Ltd., through a letter dated Feb. 14.
He said the letter was addressed to the Manager, Skye Bank Plc. Illupeju, with the Caption “Appointment of New Signatories to the Account of Mainstreet Bank Registrars LTD”.
The prosecutor also claimed that the accused persons also falsely presented another letter to the Director-General of the Securities and Exchange Commission, Garki, Abuja.
He said the letter was captioned “Notification about the Change in the Board and Management of Mainsteet Bank Registrars Ltd.
The prosecutor said the offences contravened Sections 244 (1) of the Company and Allied Matters Act, Cap C20, Laws of the Federation, 2004.
But counsel to the accused, Mr Samuel Agwe, urged the court to admit them to bail in the most liberal terms.
He said that the first accused was a reputable stakeholder in the Nigeria’s capital market and also the Chairman of a micro finance bank.
He told the court said that the second accused was a respected Nigerian citizen who would not jump bail. (NAN)
UNS/OFN/EMO
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Edited by Felix Nwadioha/Ejike Obeta