The Federal High Court in Lagos on Thursday granted N200million bail each to Ogbor Kehinde Eliot and Godwin Okoronkwo, who were accused of defrauding a bank of over N7billion.

The Economic and Financial Crimes Commission (EFCC) accused the duo and their companies – Danium Energy Services Limited and Petrosol Energy Limited – of defrauding the bank of N7, 802,649,000

The Commission said Elliot and Okoronkwo presented forged documents to the bank after claiming to have been awarded multi-billion naira contracts by Total Nigeria Plc.

The defendants claimed they got contracts to supply thousands of metric tons of diesel and needed funding.

Justice Muslim Hassan granted them bail in the sum of N200million each, with two sureties in like sum.

The sureties must be landed property owners within the court’s jurisdiction and swear to an affidavit of means, the judge said.

The defendants are to deposit their international passports, Justice Hassan added.

EFCC, in the charge signed by prosecuting counsel, Rotimi Oyedepo, said the defendants, on or about October 5, 2016 in Lagos, with intent to defraud, conspired to induce the bank to deliver N1, 573,146,000.00 to Danium Energy Services.

The Commission said it was under the false pretense that Total Nigeria Plc contracted Danium Energy Services to supply 10,000 Metric Tons of Automotive Gas Oil (AGO) for the sum of N1,990,440,000.00 .

EFCC said the accused persons, on November 15 2016, with intent to defraud, induced the bank to deliver N1, 573,146,000 to Danium Energy Services.

The Commission said Eliot and Danium Energy Services on or about last January 30 in Lagos conspired to induce the bank to deliver N3,339,225,000.00 to Danium Energy Services, among others.

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