6th May, 2013
Henry Ojelu
The embattled president of Aguiyi Ironsi International Market popularly know as Ladipo market in Mushin, Jonathan Okoli was today granted N5m bail by Justice Olabisi Akinlade of the Ikeja High Court.
Okoli was arraigned before the court by the Economic and Financial Crimes Commission (EFCC) on allegation of stealing over N52 million belonging to his market association.
According to the charge filed by the EFCC counsel, Mr Anslem Ozioko, Okoli was alleged to have between 2009 and 2010, collected N52.08 million from members of Aguiyi Ironsi International Market Traders Union.
Ozioko said the money was entrusted to Okoli for the payment of Trade Permits and Auto Dealers fees by members of the association.
The prosecutor alleged that Okoli diverted the money to his personal use and failed to remit the payments to the Lagos State Government and Mushin Local Government Area.
After his arraignment last week, Okoli who pleaded not guilty to the charge was ordered to be remanded in prison pending the determination of his application for bail.
Ruling on the bail application today, Justice Olabisi Akinlade held that Okoli is entitled to bail as the offences he is being charged with, are bailable offences.
The Judge subsequently granted him bail in the sum of N5million with two sureties.
The sureties, the judge said should swear to an affidavit of means and show evidence of tax payment to the Lagos state government
She adjourned the matter till 2 July, 2013 for trial.
Okoli is also standing trial before another high court over allegation of attempted murder.