Lagos — The Chief Executive Officer of Capital Oil and Gas, Ifeanyi Uba and four other oil marketers standing trial on alleged fuel subsidy scam will remain in the custody of the Special Fraud Unit of the Nigeria Police as a Federal High Court sitting in Lagos yesterday threw out their bail applications.
Uba is standing trial alongside Nsika Usoro, Godfrey Okorie, Chibuzor Ogbuokiri, and Joseph Orji, all of whom are being prosecuted by the Special Fraud Unit of Nigeria Police Force, over allegation of defrauding the Federal Government to the tune of N22.4 billion oil subsidy funds.
Ruling, Justice Okon Abang said the bail application filed by defendant counsels was defective and incompetent.
Justice Abang had last Wednesday fixed Monday October 22 for the ruling.
Uba's lead counsel, Joseph Nwodike (SAN) had argued that it was undisputed that the applicant had been remanded in custody since October 9 and the respondents should be granted bail because the alleged offence for which they were being remanded is not a capital one.
But in a counter submission, the prosecuting counsel, Godwin Obla, argued that by way of preliminary objection, he was opposing the exparte order made by the court on October 15, ordering that the respondents filed a response within a particular time limit.
He also told the court that he was opposed to the application filed by the applicant's counsel seeking the release on bail of the applicants.
"Although the applicants were arrested on Oct. 9, the bundle of exhibits was only taken out on October 11, which is the constitutional time allowed for the respondents to hold the applicants. By the provisions of Section 232 of the 1979 constitution, there is no need for an arraignment of the applicants before a remand," Obla said.
The respondents are billed to appear before the magistrate on October 31, 2012.