Nigeria

Court admits two brothers to N200 million bail over ‘N1.5 billion theft’

The Economic and Financial Crimes Commission (EFCC) on Thursday in an FCT High Court in Maitama, re-arraigned a deputy director with the National Emergency Management Agency (NEMA), Emenike Umesi, for alleged misappropriation of N54.3 million.

Two brothers who allegedly stole the sum of N1.5 billion from their employer and business mogul, Prince Arthur Eze, have been admitted to bail by the Abuja division of the Federal High Court.

Justice Evelyn Maha granted bail to Eze Okwuchukwu Olisaebuka and Eze Nnadozie Onyeka in the sum of N200m each and a surety who must be a honest resident of the Federal Capital Territory (FCT), Abuja.

In addition, the surety must also have a landed property within the jurisdiction of the court.

The judge had after listening to arguments advanced by counsel to the defendants ruled that the accused persons must not travel out of the country or the jurisdiction of the court.

Besides, the vacation judge further ordered that they must also deposit their international passport to the Chief Registrar of the court.

Meanwhile, further hearing in the case has been adjourned to February 4, 2021.

The Economic and Financial Crimes Commission (EFCC) had last year, arraigned two brothers, Olisaebuka and Onyeka and their individual companies for allegedly stealing N1.5bn from Prince Eze.

The EFCC in the charge before the court said Olisaebuka who owns Berlus Resources Ltd and his brother, Onyeka, owns of DYM Integrated Service Limited, that were used to allegedly commit the fraid.

On December 23, 2020, Olisaebuka and his company were on arraigned on a 14-count charge while Onyeka his company were arraigned on a 17-count charge bordering on theft.

Olisaebuka reportedly worked for Prince Eze, a popular Nigerian business mogul, as an administrative officer.

According to the charge, he allegedly stole the sum of N804,360,216.81 (N804.3 million) and $3,309,359.08 ($3.3 million) from the billionaire businessman.

But Olisaebuka pleaded “not guilty” while his lawyer asked that the court grant him bail on liberal terms.

On his part, Onyenka reportedly worked as a finance manager for Prince Eze.

He was accused of stealing N769,161,690 (N769.1m), $845,700 and £80,200 from the businessman.

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