Money laundering: Fayose’s aide granted N500m bail

Abiodun Agbele, aide to Ekiti state governor, Ayodele Fayose, has been granted bail by the Federal High Court Abuja, in the sum of N500 million for alleged money laundering.

The court which was presided over by Justice Nnamdi Dimgba, granted the bail on Thursday and ordered Agbele to produce two sureties in the sum of N250 million each.

Justice Dimgba disregarded the prosecutor’s argument that the defendant should be remanded in prison as he will jump bail if granted one.

But Dimgba stated that the prosecution could not substantiate its claim that the defendant would jump bail.

He ruled, “I note that the offence the defendant is charged with carries a sentence of three years imprisonment.
Under Section 162 of the Administration of Criminal Justice Act (ACJA), I am required to release a person charged within the threshold of the penalties referenced above to bail.

“This is, however, except in circumstances where there is reasonable ground to believe that the defendant when released on bail will commit another offence.

“Taking a holistic appraisal of all the materials before me, I am not convinced that the prosecution has provided sufficient evidence as to stop the court from exercising its jurisdiction to grant bail.

Read also: Virtually every Nigerian is corrupt, Gov Ajimobi says

“I hold, therefore, that I am inclined to admit the defendant to bail and I so admit him.”

According to Dimgba, the sureties could be private businessmen, professionals or civil servants, adding that if in the civil service, he must not be less than the rank of a director.

The judge ordering the defendant to deposit his international passports with the registrar of the court and must not travel abroad without the permission of the court, said the sureties must also be owners of property within the Federal Capital Territory (FCT) and in Ikeja or Victoria Island, Lagos.

While he said that the defendant would remain in prison custody until he perfected his bail conditions, the case was adjourned till October 26 and October 27 for hearing.

Agbele is facing 11-count charges bordering on money laundering after the Economic and Financial Crimes Commission (EFCC) accused him along others of conspiring among themselves to commit an illegal act to launder N4.6 billion transferred from the office of the National Security Adviser (NSA).

RipplesNigeria …without borders, without fears

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now