A federal high court in Abuja on Thursday granted former Governor of Imo State, Ikedi Ohakim, bail.

The ex-governor, who is being prosecuted by the Economic and Financial Crimes Commission, EFCC, for a N270m fraud allegedly perpetrated in 2008, was granted a bail in the sum of N270m.

He was however ordered to produce a surety resident in Abuja to guarantee the bail.

Presiding judge, Adeniyi Ademola, in his ruling also ordered the EFCC ‎to release Ohakim’s passport and other travel documents seized from him and submit them to deputy chief registrar of the court.

The judge had on Wednesday ordered the accused person to remain in EFCC custody pending the hearing of his bail application on Thursday.

It would be recalled that the EFCC had arraigned Ohakim on three counts of fraud.

He was also charged with fraudulently making cash payment of 270m allegedly for a property in Asokoro, Abuja.
Ohakim was also accused of conniving with Tweenex Consociates H.D. Ltd. ‎to conceal the ownership of the property by drafting an agreement which portrayed him as a tenant on the property.

The accused, who ruled Imo State between May 2007 and May 2001 is also charged of failing to declare the said property as his when he was initially arrested by the agency in 2008.

The offenses were allegedly committed in 2008 in violation of section 15(1)(d) and section 14(1)(b) of the Money Laundering (Prohibition) Act, 2004, respectively.