The Economic and Financial Crimes Commission (EFCC) on Monday arraigned a businessman, James Miracle, in a Federal High Court in Lagos over alleged illegal oil deal.
The defendant was charged before Justice Maureen Oyetenu, alongside a vessel, MT OMUS, on two counts.
He, however, pleaded not guilty to the charge.
After his plea, the prosecution counsel, U.U. Buhari, urged the court to give a date for commencement of trial of the defendant
But defence counsel, Mr Ikechukwu Ukadike, informed the court of a pending bail application of the defendant.
Defence urged the court to grant the defendant bail in the most liberal terms as the offence was bailable.
Consequently, Justice Oyetenu, admitted the defendant to bail in the sum of N10 million with one surety in like sum.
She ordered that the surety must be a civil servant not be below grade level 14, and must have a verifiable address within the court’s jurisdiction
In addition, she ordered that the surety is to present a three-years tax clearance, which will be verified by the court’s registry.
The court ordered the defendant to remain in the EFCC custody pending his remand at the Nigerian Correctional Service.
She adjourned the case until July 13. for trial .
According to the charge, the defendant was said to have committed the offence sometime in February, within the jurisdiction of the court.
He was alleged to have dealt in 800 metric tonnes of petroleum product without appropriate license,
The offences contravenes the provisions of Section 1(17) of the Miscellaneous Offences Act, Cap. M17, Laws of the Federation 2004. (NAN)