Ex-Governor Imo Governor, Ikedi Ohakim Granted Bail of N270 Million For 270 Million Fraud

The former governor of Imo State, Ikedi Ohakim was granted bail by a Federal High Court in Abuja for a sum of N270m. Ohakim was arrested last month by the Economic and Financial Crimes Commission (EFCC) for the N270m that was allegedly perpetrated in 2008, while he was the governor of the state.


Justice Ademola Adeniyi, while ruling on the bail application filed by Ikedi Ohakim, also ordered the prosecuting agency, the Economic and Financial Crimes Commission, to submit the accused person passport and other travel douments to the deputy chief registrar of the court.

As reported by Punch, the court had on Wednesday ordered the ex-governor to remain in he custody of the EFCC, pending his application bail the next day, Thursday.

On the bail application hearing on Thursday, the defence counsel, Chief Chris Uche (SAN), urged the court to grant the bail request of his client, and told the court that his client's passport and travel documents have been seized by the EFCC, and he has also remained faithful to his bail application granted to him by the anti-graft agency.

But the prosecuor, Festus Keyamo, opposed the bail for Ohakim. He said the court should not grant the bail, but instead grant an accelerated hearing for the accused.

The judge during his hearing, said that the accused person had placed sufficient materials before the court and he warrants granting him bail.

The former governor was arraigned before the court on three count charges of fraud, which includes a cash payment of $2.29m(N270m) for a property in Asokoro in Abuja. The governor who was the governor of Imo state between May 2001 and May 2007 failed to declare the property when he was arrested by the EFCC in November 2008. He had connived with Tweenex Consociates H.D. Ltd to hide the ownership of the house and portray him as a tenant of the property.

The offence committed in 2008 was in violation of section 15(1)(d) and section 14(1)(b) of the Money Laundering (Prohibition) Act, 2004, respectively.