For failure to meet the N5m bail granted him by the Federal High Court in Lagos, Nollywood film-maker, Olajide Kazeem, better known as Seun Egbegbe, has so far spent about 20 months in prison custody.

The Lagos socialist has been kept away since February 10, 2017, after he was arraigned by the police for alleged serial frauds involving N39, 098,100, $90,000 and £12,550.

Prior to that,he was nabbed and beaten in Computer Village for trying to make away with 8 iPhones without paying.
The police alleged that Egbegbe fraudulently obtained the money from no fewer than 40 Bureau De Change operators in Lagos over a period of two years – 2015 to 2017,The Punch reports.

He was said to have allegedly swindled the BDC operators by falsely representing to them that he had naira to change into foreign currencies and vice versa.
Egbegbe, alongside one Oyekan Ayomide, was first arraigned on February 10, 2017 before Justice Oluremi Oguntoyinbo, on 36 counts bordering on advance fee fraud.
They, however, pleaded not guilty.

On February 24, 2017, Justice Oguntoyinbo granted each of them N5m bail with two sureties in like sum.
The judge said one of the sureties must be a civil servant on at least Level 16 and must own a landed property in Lagos State.
The surety, the court said, must deposit the Certificate of Occupancy of the landed property in the custody of the court.
Both sureties were to swear to affidavit of means while their addresses were to be verified by the court registrar.
Justice Oguntoyinbo ordered that the defendants should be remanded in the prison custody until they meet the bail conditions.

About 20 months after the bail was granted, Egbegbe, who was known for lavish spending, has, however, remained in the Ikoyi Prison custody, as he has not been able to meet the bail conditions.

The case was last heard on November 1, 2018 and it is billed to resume on Monday (today) for continuation of trial.