The erstwhile Lagos socialist, known for his lavish lifestyle, has been incarcerated since February 10, 2017.
Egbegbe, 43, a controversial figure in the Yoruba movie industry was arraigned by the police for alleged fraud involving N39 million; $90,000 and £12,550.
The spokesperson for the Lagos State Command of the Nigerian Correctional Service, Rotimi Oladokun, also confirmed that the filmmaker is still being held at the Ikoyi prisons.
“It is not our fault. The N5 million bail bond is yet to be paid neither have any sureties come forward,” Mr Oladokun said.
The police alleged that Mr Egbegbe fraudulently obtained the monies from them over a period of two years – 2015 to 2017.
He was accused of falsely telling them (the BDC operators) that he had naira to change into foreign currencies and vice versa.
Mr Egbegbe’s lawyer, Adebayo Onifade, told this newspaper on Tuesday that his client has remained in custody because his bail conditions are yet to be perfected.
“One of the boys who was arraigned alongside Seun has perfected his bail conditions and gone home and he isn’t as influential as my client. Even before I took up Seun’s case, he had already been granted bail and when I came on board I applied for a variation and it was granted. I think it is just a question of finance or family members.
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