Court grants bail to FirstNation Airline boss, Kayode Odukoya over alleged N1.7bn theft.

Today, a Lagos State High Court sitting at Ikeja granted the bail application of Kayode Odukoya, Managing Director of First Nation Airline who was charged on a four-count charge of forgery, use of false documents, perjury and stealing by the Economic and Financial Crimes Commission (EFCC)

Justice Zainab Ettu, granted Odukoya bail with conditions that he must deposit N10 million, with two sureties in like sum. He was also ordered to submit documents of a landed property and his passport to the court.

Counsel to the defendant, Olawale Akoni (SAN) and John Odubela (SAN) had pleaded with the court to grant him bail on liberal terms.

 Counsel to EFCC did not oppose to the bail application saying the court should exercise its discretion.

EFCC had accused Odukoya of using illegal documents and giving false information on oath concerning the loss of the certificate of occupancy of a property at the Lagos State Land Registry.

The Managing Director was also accused of stealing and fraudulently converting to his own use the sum of N1.7 billion belonging to Skye bank.

Read more at - http://www.armanikedu.blogspot.com