Lawyer gets N5m bail over N88.9m fraud

Ismaila Ahmed Olokun, a lawyer, has been granted a N5million bail before a Federal High Court, Lagos, in a case of $250, 000, 00, equivalent to N88.9 million, issuance of dud cheques and fraudulent conversation.

The court was presided over by Justice Sule Muslim Hassan. Olokun was arraigned on a five-count by the Police Special Fraud Unit (PSFU), Ikoyi.

The prosecutor, Henry Obiaze, said the lawyer allegedly committed the offences in May, 2019 in Ikoyi. He told the court that Olokun obtained the said sum from a firm, Edward and Jones Contracting Services Limited under the pretence of rendering service to them.

He also told the court that the defendant, in a bid to cover up the alleged fraud, issued several Zenith Bank Plc cheques, which were rejected for lack of fund.

The defendant, however, denied the allegation and pleaded not guilty to all the charges.

The prosecutor urged the court to remand the defendant pending the determination of the allegations against him, but his counsel, Mr Yakubu Galadima, reminded the court of his client’s pending bail application.

Ruling on the application, Justice Hassan admitted the defendant to bail in the sum of N5million, with one surety in like sum. He also ordered that the surety must be a civil servant of not less than grade level 14, or a landed property owner within the court’s jurisdiction.

The judge, however, released the defendant to his counsel pending the perfection of the bail terms and adjourned the case till May 13.