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ALLEGED MONEY LAUNDERING: Court grants ex-Kwara commissioner bail
Justice Babagana Ashigar of the Federal High Court, Ilorin, on Monday granted bail to a former Commissioner for Finance in Kwara State Commissioner, Ademola Banu.
The ex-commissioner was granted bail in the sum of N200million.
“The surety must have a landed property in Ilorin and must submit the Certificate of Occupancy to the Registrar of this honourable court which should be verified by the EFCC,” the judge added.
He also ordered the defendants to deposit their travel documents including passports, forbidding them from travelling out of the country without the court’s permission.
The Economic and Financial Crimes Commission (EFCC) had on January 29 arraigned Banu and one Olarewaju Adeniyi on a nine-count charge of money laundering.
The charge sheet read: “That you, Olarewaju Adeniyi, Ademola Banu and Travel Messenger Limited between January to December 2018 in Ilorin conspired among yourselves to commit an offence to wit:
“Conversion of the sum of N411 million, the property of Kwara State Government which sum you reasonably ought to know was derived from fraud.”
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The defendants were accused of contravening Section 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3) and (4) of the same act.
The judge adjourned the case till February 24 for the commencement of trial.
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