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Business - March 22, 2017

Fake tyres: 2 Chinese, Nigerian get N10m bail


Accused importers of fake tyres

A Federal High Court sitting in Lagos, on Tuesday admitted two Chinese and a Nigerian to bail in the sum of N10 million with two sureties each in like sum.

They were arraigned for importing sub-standard automobile tyres worth about N5 billion.

The accused are Taolung Shen, Xu Jing Yao and Chinedu Madubuike.

Others included in the charge are two companies, Sino Nigeria Limited and Nedeca International Limited. They were arraigned by the Attorney-General of the Federation and Minister of Justice.

Trial judge in the matter is Justice Mojisola Olatoregun. The accused persons had pleaded not guilty to the charge, after it was read to them. Justice Olatoregun while ruling on the bail applications separately filed by defence counsel, Victor Opara and Napoleon Nwachukwu, said the two Chinese nationals should submit their international passports and resident permits to the court’s Deputy Chief Registrar.

The judge also ordered the two companies named in the charge to submit bonds of N10 million each and thereafter adjourned the case to May 15, for trial.


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