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dafman10
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FORMER Managing Directors and Chief Executive Officers of three banks — Mrs Cecilia Ibru (Oceanic Bank Plc); Mr. Sebastian Adigwe (Afribank Plc) and Bartholomew Ebong (Union Bank of Nigeria Plc) and three others were yesterday granted bail by a Federal High Court sitting in Lagos, in the total sum of N1.8 billion.
Each of the accused persons was admitted to bail in the sum of N100 million and two sureties in like sum.
However at press time, none of them had been released as they were said to be perfecting the conditions . http://www.vanguardngr.com/2009/09/15/ibru-adigwe-ebong-3-others-get-n1-8bn-bail/comment-page-1/Bullshit. |
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puskin
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Ehen.
What is bullshit about this
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Ujujoan (f)
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Bail? Jeez, even 10 bilion Naira bail wont stop these pple from absconding!!  |
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dafman10
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my dear these crooks will take off to God knws where
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baekdoosan (m)
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Is it 100 million naira bail or 100 million naira bribe?
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bukai1
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Guys, don't you think that the N100 million bill is too much? Why couldn't they pay the amount that is usually charged for bill? Who gets the N1.8bn? Pls does anyone have any answers to these questions.
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TheSeeker (m)
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In a country where they are shouting and making empty noises about re-branding they still took 100 million naira bail fee from them, and for what? Who takes the money? What account is it going to? Why can't they pay a more sensible amount for their bail? Why pay as exorbitant an amount as 100 million naira? This is utter crap!
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nellaluv (f)
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This is the highest bail, 10.5 billion, i've ever seen. I've seen 100million, 10million, 5million naira bail. I mean who gets the money, is it the govt? the state? or the judges share it among themselves. What about d police and the efcc would they also get their share? I just want to no.
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sayso (m)
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The money will not be paid if they are available for further investigation.
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emmydee (m)
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let govt confiscate everything they have looted!
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kingzli (m)
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Most of you misunderstand the idea of bail. The amount charged for the bail is equivalent to cutting cloth according to your size. After meeting the bail requirements they wouldn't lose the money if they obey the orders of the court. You really can't expect the court to give them a very low amount because the court looks at your assets first and then asks you to pay an amount which is low enough for the accused to afford but high enough to make the accused think twice before running away. These are for former bank MDs so you really shouldn't have expected less.
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dafman10
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Its worrisome that in our country matters of this levity are treated based on political hushed tones.
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TheSeeker (m)
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Most of you misunderstand the idea of bail. The amount charged for the bail is equivalent to cutting cloth according to your size. After meeting the bail requirements they wouldn't lose the money if they obey the orders of the court. You really can't expect the court to give them a very low amount because the court looks at your assets first and then asks you to pay an amount which is low enough for the accused to afford but high enough to make the accused think twice before running away. These are for former bank MDs so you really shouldn't have expected less.
And in your opinion they can't sacrifice that money and jump bail? Please!let govt confiscate everything they have looted!
And if the government does that, what happens? What happened to Tafa Balogun's loots? What happened to the recovered Abacha's loots? |
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aasog (m)
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Isnt justice so cheap in Nigeria
in this country, you will get away with anything so far you can afford to by the law.
While someone as reputable and as filthily rich as Bernie Mardoff who scammed $50 Billion couldnt even buy justice down in the US, well its an easier ball game for offenders down here in Nigeria.
Well, we can always fool ourselves and keep hoping things would get better one day.
I am one of the big fools. 
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Kobojunkie
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1.8 Billion Naira ??  That is about $12 million dollars. Where do these people get that much money to play with? |
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Sandscape (m)
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These MDs led the biggest fraud ring ever. The gambled with depositors funds, robbed Nigerians in the Stock Market of their hard earned funds by doctoring the books. They deserve it! All of it. However, this financial accountability should not be limited to the banking sector. I want to see EFCC arresting politicians and putting them in jails with as much jamboree. |
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lawrence83
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1.8 Billion Naira ?? That is about $12 million dollars. Where do these people get that much money to play with? you de ask me? direct all your questions to ibru, adigwe, ebong and the three others. |
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lawrence83
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like i prophesied, this episode is gradually coming to an end. after all the saga, this is how its gonna end.  |
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femzy (m)
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 ;Dpuǝ uɐ oʇ ǝɯoɔ sɐɥ ǝıʌoɯ ǝɥʇ ʎllɐuıɟ
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lawrence83
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Isnt justice so cheap in Nigeria in this country, you will get away with anything so far you can afford to by the law. While someone as reputable and as filthily rich as Bernie Mardoff who scammed $50 Billion couldnt even buy justice down in the US, well its an easier ball game for offenders down here in Nigeria. Well, we can always fool ourselves and keep hoping things would get better one day. I am one of the big fools. including me,myself and I |
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Nezan (m)
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I dont think money is they problem.
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bawomolo (m)
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like i prophesied, this episode is gradually coming to an end. after all the saga, this is how its gonna end. probably right. the case would die down by the end of the year |
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kingzli (m)
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Yeah it would probably die down except for Akingbola
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akym (m)
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There is nothing u cant buy in this country if only u dont know your way.
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mrperfect (m)
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This is nonsense
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saintauch (m)
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I dont get it. Would it hav been better if they were left in detention without been convicted of the crime?!!! Granting them bail doesnt mean they hav been set free, these cases are still in court but the EFCC cant keep detaining these pple. The bail conditions are very reasonable; as in addition to the 100million they still hav to provide sureties in like some. These sureties are well known Nigerians and these pple will be responsilble if the accused jump bail. Abeg, lets forget sentiments and approach issues logically. You cant keep someone in detention for eternity without conviction, if at the end of the day they are found culpable the law will take it course!
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axeman85 (m)
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In as much as i dont want these people to go free well it is withing their rights to apply for bail and its left for the judge to decide if to grant them bail and in this case they got bail but the amount they were asked ot pay as bail and sureties is chicken change to these guys, because while they were ceo of these bank they have enriched themselves well so bringin out 100million naira is just like bringing out 1million naira . what the judge should aslo do is to seize their international passport so that they wont be able to flee the country, but as well all know Nigeria judicial system, lets wait and watch and see what happens next.
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switch47
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The bail is on the High side. period. most comments here(save for a few) are either out of ignorance or lack of something better to say.
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SKYQUEST
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the comments i have read so far shows that a lot of nairalanders either allows emotion to becloud thier sense of good judgment. for heaven sake it is only the court of law that can pronounce an individual guilty. this people have been accused and they responded that they are not guity. we have only heard the side of CBN and EFCC. these people have the right to fair hearing and the right to defend themselves. all such comments portraying them as looters and criminals is not necessary until the court say they are guilty. i for one have some problem with cecila ibru but what i have heard so far is hear say as far as i am concerned, let the EFCC and CBN bring out thier evidence and if the court say she and others are guity, let them face the full wrath of the law. but casgating them and dening them freedom so they can't defend themselves is wrong and the court so agree. let us be reasonable and fair in our sense of judgment
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Eaglebabe
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If this is how some of the loans will be recovered let them go ahead.
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emmaskyblue (m)
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The bail is another format of sharing d loot. Even CBN has printed another money 4 them to loot and share. Only God can fight for the poor masses.
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emmaskyblue (m)
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The bail is another format of sharing d loot. Even CBN has printed another money 4 them to loot and share. Only God can fight for the poor masses.
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