The 62-year-old suspect pleaded innocent of the crime and was granted N500,000 bail with two sureties in like sum.
James, 62, of No 23b, Anuoluwapo St., Egbe, Lagos, is on trial for a four-count charge of conspiracy, forgery, impersonation and fraud.
He pleaded innocent of the crime and was granted N500,000 bail with two sureties in like sum.
The Magistrate, Mrs O. O. Oshin, who gave the ruling, said that one of the sureties must be a civil servant on Grade Level 12.
She said the surety must show evidence of tax payment to the Lagos State Government and must have a verifiable address.
Earlier, the Police Prosecutor, Sgt. Cyriacus Osuji, told the court that the accused conspired with others at large to commit the alleged offences.
He said that the incident took place on April 11, at 10.30 a.m. at Ecobank Plc, Lagos.
Osuji said that James forged a transfer of funds instruction of a Lagos-based company, Oxford Hydrocarbon Ltd.
The prosecutor said the accused used this forged document to transfer N21 million from the company’s Ecobank account to his own Zenith bank account.
He said that the accused impersonated a dispatch rider with the company to perpetrate the offence.
According to him, the offences contravened Sections 361 (b), 404 and 409 of the Criminal Law of Lagos State, 2011.
The case was adjourned till May 9 for mention.