Okoli was arraigned before Justice Lateefa Okunnu on a 12-count charge of conspiracy, attempted murder, unlawful display of arms, causing of grievous harm contrary to Section 243 of the criminal code, Laws of Lagos State.
He was arraigned along side others accused of attempting to kill five members of his market association during a protest last year.
The entire premises of the court was occupied by hundreds of his supporters who came to show solidarity for him.
During the proceeding, the state, represented by Mr Femi Adamson alleged that the accused alongside his alleged culprits on March 5, 2012, "armed with guns and machetes attempted to kill Maduchukwu Ejike, Solomon Eze, Cyril Nwenu, Joseph Nnaji at Ladipo Market by inflicting grievous harms on them."
They were also accused of unlawful assembly at the market "to act in disorderly manner and to disturb the public peace."
However, he pleaded not guilty to all the charges.
The moment his plea was taken, his lawyer, Nnorom Quickers, disclosed that his client has been in detention since last October without bail, adding that the offence preffered against his client is bailable.
The State, however, opposed the application for bail, saying granting him bail may further cause mayhem in the market.
In her ruling, Justice Okunnu admitted Okoli to bail in the sum of N5 million with two sureties in like sum, who must be residents and gainfully employed in Lagos. Click to signup for FREE news updates, latest information and hottest gists everyday
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