The Independent Corruption Practices and Other Related Offences Commission (ICPC) on Thursday re-arraigned the former Inspector-General of Police, Sunday Ehindero and former Commissioner of Police, John Obaniyi, for alleged N16.4 million fraud.
The defendants are standing trial before an FCT High Court, Apo, on a five-count charge of fraud and conspiracy.
The prosecutor, Mr. O.G. Iwuagwu, told the court that the defendants committed the offences between May 2006 and November 2006.
He said the defendants conspired and used their positions to place N500million in two fix deposit accounts.
Iwuagwu said the money was part of N 557,995,065 donated by the Bayelsa State Government to the Nigeria Police Force for the purchase of arms and ammunition
The prosecutor said the N500 million placed in fixed deposits yielded N16.4 million interest.
When the charges were read, the defendants denied committing the offences.
The counsel to the defendants, Kenneth Omoruan and E .O. Tela, prayed the court to allow the bail granted to the defendants when there were first arraigned to continue.
Justice Sylvanus Oriji told counsel to both defendants to transfer the bail documents to the court.
In the alternative, he granted them bail in the sum of N10million each and two sureties each in like sum.
He said the sureties must be civil servants on grade level 14 and reside in the FCT.
The case was adjourned till June 19 and 26 for hearing.