Justice P. I Adjokwu of a Federal High Court in Benin on Thursday granted the Edo chairman of the Peoples Democratic Party, Chief Dan Orbih and Mr Osagie Ize-Iyamu, the 2016 governorship candidate, N10 million bail each for alleged N700 million fraud.
Also granted bail in the sum of N10million each were the former deputy governor, Mr Lucky Imasuen, a former member of the House of Representatives, Tony Azegnemi and Efe Anthony.
Justice Adjokwu ordered the defendants to produce a surety each in like sum.
The judge ordered that the sureties, who must not be below grade level 16, must be house owners, with Certificates of Occupancy (C of O) that should be deposited with the court’s deputy registrar.
Adjokwu, who rejected the plea by defendants’ counsel, Mr Charles Edosomwan that they be remanded in the EFCC custody, until they meet the bail conditions, ordered them remanded in prison.
The Judge adjourned the case till July 4.
EFCC had arraigned the defendants on an eight-count charge of laundering the sum of N700million.
The EFCC alleged that the defendants were arraigned for receiving N700 Million prior to the 2015 general elections, from former oil minister, Diezani Alison-Madueke. The money was part of the $115 million that Diezani pilfered from the treasury.
He said the offence contravened Section 15(2)(d)of the Money Laundering (Prohibited) Act 2011(as amended by the Money Laundering (Prohibition) punishable under section 15(3) of same Act.