Man who defrauded 170 people of N10.7bn granted N2bn bail

NEWS DIGEST – A Federal High Court in Lagos has granted bail to the 22-year-old man, Joshua Adeyinka Kayode, who allegedly used a fake investment scheme to defraud 170 people of N10.7billion.

Justice Nicholas Oweibo granted him bail in the sum of N2 billion with 2 sureties in like sum. The bail was sequel to arguments by his counsel, a Senior Advocate of Nigeria, Emeka Okpoko, and the prosecutor, Mr. Williams Tijjani.

The judge ordered that the sureties must have landed property within the court’s jurisdiction, and must depose to an affidavit.

Justice Oweibo also ordered the defendant to deposit his international passport with the court’s registrar while the sureties and the defendants are to deposit two passport photographs each with the court’s registrar

While adjourning the defendant’s trial till November 10, the judge ordered that all the bail terms must be verified by the prosecution with the defendant to be remanded in the custody of the Nigerian Correctional Services till the perfection of the bail terms.