Nollywood film-maker and producer, Olajide Kareem, aka Seun Egbegbe, has spent over 30 months (two years and six months) in prison after he failed to meet the N5m bail granted him by the Federal High Court in Lagos.
He was incarcerated on February 10, 2017.
Egbegbe allegedly swindled the BDC operators out of the money by claiming that he had naira to change into foreign currencies and vice versa.
The erstwhile Lagos socialite had been arraigned by the police for a series of fraud involving N39,098,100, $90,000 and £12,550.
The spokesperson for the Lagos State Command of the Nigerian Correctional Service, Rotimi Oladokun, on Sunday confirmed that Egbegbe was still in custody, adding that his freedom was conditioned on his bail terms.
“It is not our fault. It is simply because he has not met his bail conditions,” he said.