A High Court sitting in Port Harcourt, the Rivers State capital has granted a 500 million naira bail each to the Managing Director, Saipem Nigeria Contracting Limited, Walter Peviana and Kelechi Sinteh Chinakwe.
The two accused had, on January 11, been remanded in Port Harcourt Correctional Centre over an alleged conspiracy to cheat and with intent to defraud the Rivers State Government of the sum of $130 million, being an advance payment for the construction of the OCGT power plant in Port Harcourt.
However, during the court sitting on Tuesday, the defendants came up for a plea on a 15-count-charge, and they pleaded not guilty.
Following the plea, the presiding Judge, Justice Okogbule Gbasam, granted them bail after their counsels applied for their bail.
Their counsels urged the court to use its discretion in the release of their clients.
Opposing the plea for bail, counsel for the government of Rivers State, Godwin Obla (SAN), said the total sum of money involved in the case is enormous and should serve as a reason to deny the accused persons bail.
However, he prayed to the court to exercise judgement on her discretion.
In his ruling, Justice Gbasam declared that the accused must meet certain bail conditions before they are released, including two sureties who must have landed property within the court’s jurisdiction.
The judge directed that said one of the sureties for the third defendant (Peviana) must be of the managerial position with the second defendant (Saipem Nigeria Contracting Limited).
The court also ordered that Peviana and Chinakwe must deposit their international passports and other travelling documents with the court before they are released.
