The Lagos State Special Offences Court in Ikeja on Monday granted a N10m bail to the Managing Director of First Nation Airways, Mr. Kayode Odukoya, who was charged with an alleged fraud of N1.7bn.
Justice Mojisola Dada said she was inclined to admit Odukoya to bail particularly as the Economic and Financial Crimes Commission did not oppose the bail application filed by the defendant.
The judge granted the N10m bail with two sureties in like sum.
She said the sureties must be owners of landed properties in Lagos State and they must each depose to an affidavit of means.
Odukoya was ordered to deposit his passport in the custody of the court pending the conclusion of trial.
The judge adjourned till May 7, 2018 for commencement of trial.
The EFCC had on March 16, 2018 arraigned Odukoya, alongside his airline, First Nation Airways, and the parent organisation, Bellview Airlines.
They were arraigned on four counts bordering on forgery, use of forged documents, perjury and stealing.