A Federal High Court, sitting in Abuja, has granted bail to the chairman of Atlantic Energy Drilling Concept; a former Group Managing Director of the Nigerian National Petroleum Corporation, Andrew Yakubu, and four others.
Mr. Omokore, an ally of former Petroleum Minister, Diezani Alison-Madueke, and Mr. Yakubu were charged along with a co-owner of Atlantic Energy, Kola Aluko; Victor Briggs; Abiye Memnere; David Mbanefo; Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concepts Limited.
Justice Binta Murtala-Nyako, who gave the ruling, ordered the defendants to provide bail bonds of N50 million each, with one surety in like sum.
The surety should have properties in Abuja and should depose to affidavit of means; while the defendants should submit their international passport or passports.
They are also to remain in the court premises until they meet their bail conditions.
Earlier the Economic and Financial Crimes Commission had struck out the name of one of the defendants, Kola Aluko, who is said to be at large.
Mr. Aluko jointly owns Atlantic Energy with Mr. Omokore. The company was allegedly used for the diversion of N400 million in the guise of importing petroleum products in 2011.
The prosecution counsel, Rotimi Jacobs, had asked the judge to remove Mr. Aluko’s name from the charge sheet since he (Mr. Aluko) could not be reached and had not been served the notice of summons.