EFCC arraigns two for allegedly impersonating bank directors

The Economic and Financial Crimes Commission (EFCC) yesterday arraigned two men, Chester Ukandu and George Achi at the Federal High Court, Lagos, over alleged impersonation.

They were charged on two counts of false representation as Directors of Mainstreet Bank Registrars Limited. They, however, pleaded not guilty to the charge.
After their arraignment, the prosecutor, Mr. Ayokunle Fayaju urged the court to remand the accused in custody pending trial, considering the nature of the offence levied against the accused and their likelihood of jumping bail.

Defence counsel, Mr. Samuel Agwe who had earlier filed a bail application before the court, sought for permission to withdraw it and opted to make an oral application for the bail of the accused persons instead. Having not been opposed by the prosecution, Agwe urged the court to grant the accused bail on 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 also said the second accused was a respected Nigerian citizen, who would not jump bail, and urged the court to grant them favourable bail conditions.

In his ruling, Justice Mohammed Aikawa granted the accused bail in the sums of N20 million each, with one surety each in like sum.The court held that the sureties must be owners of landed property in Victoria Island, Ikoyi, Lekki or Ikeja areas of Lagos, who must deposit the original certificate of occupancy to the properties, to the Deputy Chief Registrar of the Court.

The judge added that accused shall report to the office of the EFCC on the first Monday of every month until the court decides otherwise, or until the end of the matter.He further added that the accused persons shall sign undertakings not to delay trial of the case. Aikawa, however, ordered the remand of the accused in prison custody pending the perfection of their bail terms and adjourned to December 12 for trial.