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

kingzli:

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.

Kobojunkie:

1.8 Billion Naira ?? That is about $12 million dollars. Where do these people get that much money to play with?

aasog:

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.

lawrence83:

like i prophesied, this episode is gradually coming to an end.

after all the saga, this is how its gonna end.