The Lagos State Special Offences Court in Ikeja on Monday granted N10m bail to the embattled Managing Director of First Nation Airways, Mr. Kayode Odukoya.
Odukoya was charged with an alleged fraud of N1.7bn.
Justice Mojisola Dada said she was inclined to admit Odukoya to bail particularly as the Economic and Financial Crimes Commission did not oppose the bail application filed by the defendant.
The judge granted the accused person N10m bail with two sureties in like sum.
She said the sureties must be owners of landed properties in Lagos State and they must each depose to an affidavit of means.
Odukoya was ordered to deposit his passport in the custody of the court pending the conclusion of trial.
The judge adjourned till May 7, 2018 for commencement of trial.
The EFCC had on March 16, 2018 arraigned Odukoya, alongside his airline, First Nation Airways, and the parent organisation, Bellview Airlines.
The EFCC alleged that the accused forged the Memorandum of Loss of Lagos State Certificate of Occupancy registered as No. 33 at page 33 volume 1011 at the Lagos State Land Registry, Alausa, Lagos, in order that the document be acted upon as genuine.
The forged document was in respect of a property located at No. 29, Oduduwa St., Ikeja GRA, Lagos.
Odukoya is alleged by the EFCC to have used the false document, and also gave false information on oath, concerning the loss of the certificate of occupancy at the Lagos State Land Registry.