Nollywood film-maker, Olajide Kazeem, popularly known as Seun Egbegbe, who has so far, spent about 20 months in prison custody, for failing to meet the N5million bail granted to him, will be arraigned this Monday by security operatives before a Federal High Court in Lagos.
Recall that the movie producer has been in custody since February 10, 2017, after he was arrested and arraigned by the police for alleged serial frauds involving N39, 098,100, $90,000 and £12,550.
The police alleged that Egbegbe fraudulently obtained the money from no fewer than 40 Bureau De Change operators in Lagos over a period of two years – 2015 to 2017.
He was said to have allegedly swindled the BDC operators by falsely representing to them that he had naira to change into foreign currencies and vice versa.
Egbegbe, alongside one Oyekan Ayomide, was first arraigned on February 10, 2017 before Justice Oluremi Oguntoyinbo, on 36 counts bordering on advance fee fraud.
The charge sheet was subsequently amended twice, with the counts eventually increased to 40 and three other defendants – Lawal Kareem, Olalekan Yusuf and Muyideen Shoyombo – added.
The prosecuting counsel for the police, Innocent Anyigor, said Egbegbe and the other defendants acted contrary to Section 8 of the Advance Fee Fraud and Other Related Offences Act 2006 and were liable to be punished under Section 1(3) of the same Act.
They, however, pleaded not guilty.
On February 24, 2017, Justice Oguntoyinbo granted each of them N5m bail with two sureties in like sum.
The judge said one of the sureties must be a civil servant on at least Level 16 and must own a landed property in Lagos State.
The surety, the court said, must deposit the Certificate of Occupancy of the landed property in the custody of the court.
Both sureties were to swear to affidavit of means while their addresses were to be verified by the court registrar.
Justice Oguntoyinbo ordered that the defendants should be remanded in the prison custody until they meet the bail conditions.
About 20 months after the bail was granted, Egbegbe, who was known for lavish spending, has, however, remained in the Ikoyi Prison custody, as he has not been able to meet the bail conditions.
The case was last heard on November 1, 2018 and it is billed to resume on Monday 5th of November for continuation of trial.