The Economic and Financial Crimes Commission (EFCC) lasr Thursday arraigned a stockbroker, Ikenna Okoro, on a two-count charge of misappropriating N25 million.
Okoro was arraigned before Justice Ibrahim Bukar of an Abuja High Court
The EFCC alleged that one Mrs Adah Okwuosa in April 2009, entrusted Okoro, as her stockbroker/agent, with the amount to buy shares for her.
Okoro was said to have allegedly misappropriated and converted the said money to his own use.
He was also alleged to have issued dud cheque of N25 million to Okwuosa
The accused pleaded not guilty to the charges when they were read to him.
Counsel to the accused, Reuben Okoro, prayed the court to admit the accused to bail on liberal terms.
However, the prosecution counsel, Mr Adekunle Aderinto, opposed the application on the ground that it should not be made orally.
The judge, however, granted the bail in the sum N500,000 and one surety in like sum.
Bukar said that the surety, who must be a civil servant, must have landed property in Abuja.
He adjourned the case to July 23, for commencement of trial.