A Federal High Court sitting in Lagos, Thursday, granted bail in the sum of N2 billion to an oil marketer and cargo surveyor, charged with N1.7 billion fuel subsidy fraud.
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The judge, Justice Ibrahim Buba, however, ordered the accused to be remanded in custody, pending the perfection of their bail.
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The accused, Samuel Owa and his company, Stone Bridge Oil Limited, were arraigned alongside a cargo surveyor, Onassis Wajutom and his company, Vibrant Ventures Limited on June 18 on a four- count charge bordering on the alleged offence.
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At the resumed hearing of the case, counsel to the first and second accused, in adopting his bail application, urged the court to admit his client to bail on liberal terms.
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Counsel to the third and fourth accused, also aligned himself with the submissions of counsel to the first and second accused and urged the court to grant his clients bail on favourable terms.