A retired Navy Captain, Jerry Ogbonna has been arraigned before an Ikeja Special Offences Court, Lagos for allegedly defrauding Diamond bank of N45 million.

The 63-year-old Navy Captain was arraigned alongside his company Obyke Consult Limited by the Economic and Financial Crimes Commission, for also allegedly defrauding Diamond Bank of N45 m while claiming that the money was meant for mobilization fee for the Department of Petroleum Resources.

Ogbonna who is facing a two-count charge of stealing and fraud pleaded not guilty.

His counsel, A.A Ossai, however, pleaded with the court to allow his client to remain in the EFCC custody pending when his bail application would be heard.

The presiding Judge, Justice Mojisola Dada allowed Ogbonna to continue in the bail condition granted him by the Justice Oluwatoyin Ipaye of the High Court division.

The matter was adjourned till for continuation of trial. (New Telegraph)