KEY POINTS

• Four bloggers re-arraigned over cyberstalking GTCO.
• Defendants face 10 fresh counts, including conspiracy and extortion.
• Bail hearing set for October 24, with evidence submission required.

Four bloggers, Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami, have been re-arraigned before the Federal High Court in Lagos on fresh charges.

The bloggers are accused of cyberstalking and publishing false information against Guaranty Trust Holding Company (GTCO). According to Punch, the updated 10-count charge includes allegations of conspiracy, extortion, false publication, and damage to GTCO’s market value.

The case, originally presented on September 27 with two charges, was expanded after new evidence emerged. Justice Ayokunle Faji ordered the defendants to remain at the Ikoyi Correctional Centre until their bail applications are reviewed.

Prosecution escalates case with new allegations

Lead prosecutor Ajibola Aribisala (SAN) told the court that the Inspector General of Police granted a fiat to proceed with the case.

Aribisala explained that the defendants allegedly spread false and misleading information through social media to tarnish the reputation of GTCO, its management, and Nigeria’s banking sector.

According to the prosecution, the bloggers’ actions aimed to manipulate the market by devaluing GTCO’s shares and causing instability within the financial system. The defendants allegedly threatened to extort the company by leveraging false allegations, seeking financial gain through defamation.

The charges, based on Sections 24 and 27 of the Cybercrimes Act and related provisions in the Criminal Code, carry serious penalties if proven.

Court adjourns for bail hearing

The defendants, who pleaded not guilty, sought to challenge the amended charges through their lawyer, Olakunle Afolabi.

However, Afolabi withdrew his objection after the judge declined to allow oral bail applications. Justice Faji instructed the prosecution to submit its proof of evidence before the next court session.

The court adjourned the case to October 24, 2024, for the defense to file and serve its bail applications.