A 42 year-old Congolese, Seleto Papy, was yesterday arraigned before a Federal High Court in Lagos by the Economic and Financial Crimes Commission (EFCC) on a 5-count charge of unlawful possession of fake foreign currency totalling $38,400 (N6 million).

EFCC in a statement yesterday its spokesman Wilson Uwujaren said the suspect was docked before Justice James Tsoho and he pleaded not guilty to all the charges.

Prosecution counsel, Modupe Akinkoye, urged the court to remand the accused in prison and fix a date for the commencement of trial.

But defence counsel Adeniyi Odunsi told the court that his client was entitled to bail based on the National Refugee Asylums Certificate.

Tsoho granted the accused bail and ordered that he should be remanded in prison custody until he meets the bail conditions- N5 million and two sureties in like sum with landed properties in Lagos.

Papy was arrested on February 1 by operatives of the National Drug Law Enforcement Agency (NDLEA) at the Murtala Mohammed International Airport, Lagos, during an outward clearance of cargo at the Nacho Shed on Asky Airline en route to Congo Kinshasa.