Former Governor of Imo State, Rochas Okorocha has been granted N500 million bail.
Justice Inyang Ekwo of the Federal High Court in Abuja granted Okorocha bail on Tuesday during his arraignment over alleged N2.9bn corruption charges.
The Economic and Financial Crimes Commission (EFCC) had earlier arraigned Okorocha, an ally to the former governor, Anyim Nyerere Chinenye and five companies on a 17-count money laundering charge.
In his ruling, Justice Inyang Ekwo granted bail to the Senator representing Imo West Senatorial District in the sum of N500 million and a surety in like sum.
Justice Ekwo gave the order while ruling on the bail application filed by Okorocha and Chinyere.
He ordered that the surety must be a responsible citizen who has landed property in the like sum of the bail granted to the presidential aspirant.
The judge also directed Okorocha to deposit his international passport with the registry of the court and should not travel outside the jurisdiction of the court without the court’s permission.
Similarly, he ordered the court registry to inform the Nigeria Immigration Service that Okorocha’s international passport was in its custody.
Justice Ekwo, however, ordered that the former governor should remain in the custody of the EFCC until his bail conditions were met.
In his response, counsel to Okorocha, Okey Amaechi, informed the court that his client was ready to meet the bail conditions.
Justice Ekwo, however, fixed November 7 for the commencement of the former governor’s trial.
Recall that anti-graft agency last week forcefully broke into the Abuja residence of the Senator representing Imo-West.
The EFCC had forcefully invaded the premises, using teargas to disperse journalists from the compound. The commission accused Okorocha of refusing to honour invitations to him after jumping the administrative bail granted to him following allegations of stealing public funds to the tune of 2.9 billion Naira.