Nigerian government arraigns Chinese, Nigerian for alleged N2.5bn fraud

Nigerian government has arraigned two Chinese and a Nigerian before a Federal High Court in Abuja on allegations of criminal conspiracy, forgery and illegal transfer of funds to the tune of about N2.5billion.
The defendants, Hao Aijun, Liu Yangxi and Obi Anthony Chibuzo were arraigned on a 15-count amended charge by the Inspector General of Police.

They, however, pleaded not guilty to the charges when read to them.
Their lawyer, Akinlolu Kehinde SAN, informed the court of an application for their bail filed on the 14 of June, 2017.
Reacting, prosecution counsel, Mr. David Ighodo, however, asked the court to remand the defendants in prison custody pending their trial, stressing that the charges preferred against them were grievous.

Trial Judge, Justice Nnamdi Dimgba however asked the prosecution if they have been granted bail by the police.
When the prosecution answered in the affirmative, the court then stood down the case for ten minutes and directed counsel to meet and agree on certain conditions for bail for the defendants which would be subjected to the approval of the court.
Justice Dimgba granted the defendants bail in the sum of N100m each with two sureties in like sum.

The court said the sureties who must be private or professional business persons or public servants who must not be less than grade level 15 must own landed property within Abuja metropolis.
They are also to deposit their international passports with the court and must not travel out of the country without the permission of the court.
He, however, ordered that the defendants would be remanded in prison if they failed to meet the bail conditions within 48 hours and adjourned till July 4 and 5, 2017 for commencement of trial.
Part of the charge reads: That you Hao Aijun ‘f’, Liu Yangxi ‘m’, Obi Anthony Chibuzo ‘m’ and others at large between July 2016 and August 2016 within the jurisdiction of this Honourable court, conspired among yourselves, to wit fraudulent conversion of the total sum of N971m (Nine hundred and seventy one million) naira a fund belonging to BN Ceramics Industry Nigeria Ltd which was domiciled in the Zenith Bank Plc account number 1013840111 a fund which you know or reasonably ought to know, forms part of proceeds of an Unlawful act and thereby committed an offence contrary to section 18 and punishable under section 15 of the Money Laundering (Prohibition) Act 2011 as amended.”