The Independent Corruption Practices and Other Related Offences Commission (ICPC), on Thursday, re-arraigned former Inspector-General of Police (IGP), Sunday Ehindero, and former Commissioner of Police, John Obaniyi, for alleged N16.4m fraud.
The defendants are standing trial before an FCT High Court, Apo, on a five-count charge bordering on fraud and conspiracy.
The prosecutor, Mr O.G. Iwuagwu, told the court that the defendants committed the alleged offences between May 2006 and November,2006.
He said the defendants conspired and used their positions to place N500 million in two fixed deposit accounts.
Iwuagwu said that the money was part of N557,995,065, donated by Bayelsa State to the Nigeria Police Force (NPF) for the purchase of arms and ammunition
The prosecutor said that the N500m placed in fixed deposits yielded N16.4m interest.
When the charges were read, the defendants denied committing the offences.
Counsel to the defendants, Kenneth Omoruan and E .O. Tela, prayed the court to allow the bail granted to the defendants when they were first arraigned to continue.
Justice Sylvanus Orji, told counsel to both defendants to transfer the bail documents to the court.
In the alternative, he granted them bail in the sum of N10m 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 until June 19, and 26 for hearing.