N105m fraud: Court grants bail variation of N50m to Aliqea Group UAE director

ARINZE NWAFOR, Lagos

A Lagos Special Offences Court in Ikeja has granted a bail variation of N50 million to the Group Managing Director of Aliqea Group UAE, Muhammad Lamido, after he was remanded at the Kirikiri Medium Correctional Centre.

Justice Olubusola Okunuga, on Wednesday, granted the bail variation following the bail application by the counsel to the defendant, Emmanuel Ogbeche.

Lamido is on trial for allegedly defrauding another businessman of N105 million.

The Economic and Financial Crimes Commission (EFCC) brought a four-count charge bordering on conspiracy to obtain by false pretence and money laundering against the defendant, Lamido, and his business organisation, contrary to Section 419 of the Criminal Code Act in Nigeria.

The defendant pleaded not guilty to the four-count charge that the EFCC brought against him.

Ogbeche told the judge to revisit his bail application which he had earlier applied for on December 4, 2023.

He presented the court with a 14-paragraph affidavit supporting his application which contained the effort of the defendant to restitute the money he owed the claimant.

The Counsel to the Economic and Financial Crimes Commission (EFCC), B. M. Isah, told the court that he was served the application when the judge asked for the prosecution’s knowledge of the further affidavit.

The defence counsel, Ogbeche, assured the court of his client’s availability in court.

“He won’t jump (the) bail. He is willing to defend himself. He is somebody that society knows,” Ogbeche said.

Okunuga told the defence counsel that she considers only information before the court when hearing bail applications.

“The defendant is admitted to bail in the sum of N50 million with sureties,” the judge said as she granted Lamido the bail variation.

Okunuga adjourned the matter to March 7, 2024, for continuation of trial.