The Economic and Financial Crimes Commission, EFCC, Lagos Zonal office, on Monday, February 19, 2017, arraigned one Chukwuemeka Ekwunife and his company, Structured Energy Limited, before Justice Serifat Solebo sitting at the State High Court, Ikeja, Lagos.
Ekwunife was arraigned on an eight-count charge bordering on stealing and fraudulent conversion to the tune of N300,000,000 (Three Hundred Million Naira).
The suspect was arrested following a petition received from a complainant, Nepal Oil and Gas Limited.
The defendant pleaded not guilty to the charge preferred against him.
In view of his plea, the prosecution counsel, G.C. Akaogu, asked the court for a trial date and also prayed the court to remand the defendant in prison custody.
Counsel to the defendant urged the court to grant his client bail.
Consequently, Justice Solebo adjourned the case to February 26, 2018, for hearing of the bail application and commencement of trial.
The judge also ordered the defendant to be remanded in Kirikiri Prison pending the determination of the bail application.