Lagos — With the bail granted the bank directors who were recently arraigned by the Economic and Financial Crimes Commission and the adjournments by the court that followed, there is a somewhat cynical feeling among many Nigerians that the case might hit an anti-climactic note like the prosecution of some former governors charged with corruption.
After over three weeks in detention, the 15 bank directors who were recently arraigned before a Federal High Court in Lagos by the Economic and Financial Crimes Commission (EFCC) on a total of 131-count charge bordering on fraud, concealment and granting of loans without adequate collateral running into about N700billion, were released on bail. The court presided over by the Chief Judge of the court, Justice Dan Abutu, granted them bail on terms considered liberal.
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