EFCC re-arraigns ex-Union Bank MD, others for alleged fraud

The Economic and Financial Crimes Commission (EFCC) yesterday re-arraigned the former managing director of Union Bank of Nigeria Plc, Bartholomew Bassey Ebong and five others before a Federal High Court sitting in Lagos.
They were re-arraigned before Justice Ofili Ajumogobia for alleged financial improprieties.
The other persons rearraigned alongside Ebong are Henry Onyemen, Niyi Albert Opeodu, Peter Ololo, Samuel Ayininuola and Ololo’s company, Falcon Securities Limited.
This is the third time the same set of accused persons would be arraigned at the Federal High Court in Lagos, having been earlier arraigned before Justice Dan Abutu (now retired) and Justice Binta Nyako on similar charges. At the proceedings yesterday, the accused were re-arraigned on a 20-count charge comprising the alleged offences of conspiracy, money laundering and reckless grant of loans to the detriment of the bank.
All the accused persons pleaded “not guilty” to each of the counts in the charge.
After hearing their lawyers, comprising Mr. Felix Fagboungbe SAN, N.P Oran among others, who prayed the court to grant bail to the accused persons on the grounds that they were well-behaved and had earlier been granted bail by both Justice Dan Abutu and Binta nyako before who they were earlier arraigned.
The prosecution, represented by Mr. Nkem Okolie, however opposed the bail on the grounds that some of them did not report to the EFCC at the initial stage and that they might jump bail if granted by the court.