A Federal High Court, Abuja, on Tuesday, admitted Sen. Rochas Okorocha to bail in the sum of N500 million with one surety in like sum.
Justice Inyang Ekwo, in a ruling, said granting bail was a discretionary power of the court.
Justice Ekwo said the surety, who must have a landed property within the jurisdiction of the court, must deposit the Certificate of Occupancy (C of O) of the verified property with the registry of the court.
The judge, while admitting the senator to a bail with a cautionary statement, ordered that his international passport be deposited in the registry of the court.
He ordered the registry of the court to inform the Nigeria Immigration Service (NIS) about the state of Okorocha’s travel documents.
He further ordered the lawmaker not to travel outside the country except with the leave of the court.
Ekwo also granted Okorocha’s co-defendant, Anyim Nyerere Chinenye, a bail in the terms of the administrative bail earlier granted to him by the Economic and Financial Crimes Commission (EFCC).
The judge adjourned the matter until Nov 7, Nov 8, Nov 9, Nov 10 and Nov 11 for trial.
The development occurred after counsel for Okorocha, Solomon Umo, SAN, and that Chinenye, Oba Maduabuchi, SAN, took the applications.
The News Agency of Nigeria (NAN) reports that Okorocha is the current senator representing Imo West Senatorial District.
The lawmaker, who is the 1st defendant, was arraigned alongside Chinenye, Naphtali International Limited, Perfect Finish Multi Projects Limited, Consolid Projects Consulting Limited, Pramif International Limited, and Legend World Concepts Limited as 2nd to 7th defendants respectively.
He was alleged to have laundered funds to the tune of N2.9 billion while serving as governor of Imo.