Court remands bank manager over alleged N179.4 million fraud

JUSTICE Chuka Austine Obiozor of a Federal High Court, Lagos, has ordered the remand of Mr. Fidelis Egueke, the Asaba Branch Manager of Zenith Bank Plc, who was alleged to be involved in N179.498 million fraud, in the custody of Force Criminal Investigation Department ( FCID) Headquarters Annex, Alagbon, Ikoyi, Lagos.

The judge further ordered his remand for another seven days, following a plea by his counsel, Mr. C. A. Ajuyah ( SAN), that the court should allow him to be in the police custody, rather than in custody of Nigerian Correctional Services, till when he would have perfected his bail terms.

At the resumed hearing, yesterday, Ajuyah prayed the court that his client had credible sureties to stand and that he would not evade the trial, tamper or interfere with the prosecution’s evidences and witnesses.

Responding, counsel to the

FCID, Mr. Morufu Animashaun, who vehemently opposed the application, said that the defendant was a ‘ flight risk’, and that he might not turn up for his trial if granted bail.

He urged the court to refuse the bail application.

Justice Obiozor, while ruling on the counsel’s submissions and after citing plethora of authorities, said: “Granting bail to a defendant is at the court’s discretion.”

He, therefore, granted the bank manager bail in the sum of N50 million with one surety, who must be a resident within the court’s jurisdiction.

The judge also ordered that the surety must have evidence of three- year tax payment, title deed and one year statement of account, adding that bail terms must be verified by the court’s Deputy Chief Registrar ( DCR).

Obiozor adjourned the matter till March 16, 24, 25, 30 and 31, 2021 for trial.