Court grants N5m bail to foreigner, charges Nigerian with N100m fraud

A Federal High Court in Lagos on Monday granted bail to an Indian-born Canadian, Santosh Singh and a Nigerian, Olakunle Bello Shola, who were alleged to have defrauded a bank of the sum of N100million. The duo of  Santosh, 43 and Olakunle, 31 were arraigned before  the court, last Monday, by the men of Police […]

A Federal High Court in Lagos on Monday granted bail to an Indian-born Canadian, Santosh Singh and a Nigerian, Olakunle Bello Shola, who were alleged to have defrauded a bank of the sum of N100million.

The duo of  Santosh, 43 and Olakunle, 31 were arraigned before  the court, last Monday, by the men of Police Special Fraud Unit (PSFU) Ikoyi-Lagos, on one count charge of fraud.

They, however, pleaded not guilty to the charge.

Delivering ruling on their bail applications, Justice Oluremi Oguntoyinbo, admitted bail to the two defendants in the sum of N5 million with two sureties each.

Justice Oguntoyinbo also ordered the Indian-born Canadian to obtain a letter of undertaken from Indian and Canada consulates, indicating that he would not travel out of Nigeria during the pendency of the charge against him.