Alleged N1.7 bn Theft: First Nation Airline Boss, Kayode Odukoya, Gets N10m Bail

Kayode Odukoya, Managing Director of First Nation Airlines, was on Monday granted N10 million bail by an Ikeja Special Offences Court in Lagos.

Odukoya had on March 15 pleaded not guilty to fraud and a N1.7 billion theft allegation against him by the Economic and Financial Crimes Commission (EFCC).

The EFCC is accusing Odukoya of a four-count charge of forgery, use of false document, perjury and stealing and the court ordered him to be remanded in EFCC custody pending the determination of his bail application.

However, at Monday’s proceeding, Justice Dada granted Odukoya N10 million bail, saying that “the prosecution did not show cause why bail should not be granted to the defendant.

“He is granted N10 million bail with two sureties in like sum.

“The sureties should have properties in the city of Lagos and should depose to an affidavit of means.

“The defendant should deposit his international passport with the court.

“Though the defence had requested that the defendant be granted bail on self recognition, he will be granted a temporary release on the condition that his international passport is immediately deposited with the court.

“This case is adjourned until May 7 to 10 for trial,” the judge said.