A former Commissioner for Finance in Kwara State, Ademola Banu, who is being prosecuted by the Economic and Financial Crimes Commission, EFCC, for allegedly laundering N411million belonging to the state government, has been granted bail by a Federal High Court sitting in Ilorin.
The Ilorin Zonal Office of the EFCC had on January 29, 2020 arraigned Banu and one Olarewaju Adeniyi before Justice Babangana Ashigar on a nine-count charge bordering on money laundering.
Defence counsel, Gboyega Oyewole and Bamidele Ibironke had prayed Justice Ashigar to grant bail to their clients, arguing that the offences in which the defendants were standing trial was bailable.
Counsel for the EFCC, Nnaemeka Omewa, however, opposed the application for bail and asked the Court to dismiss it accordingly, and fix a date for trial to commence, "to enable us prove our case".
Subsequently, Justice Ashigar adjourned to February 10, 2020 to rule on the application.
Delivering the ruling today, Justice Ashigar granted the first and second defendants bail in the sum of N200million with one surety in like sum.
He held that: “The surety is to have a landed property in Ilorin and must submit the Certificate of Occupancy (C of O) to the registrar of this honourable Court which should be verified by the EFCC.”
The Judge further ordered the defendants to deposit their international passports including other travel documents and must not travel out of the Country without the permission of the Court pending the hearing and determination of the case.
They are to remain in the custody of the EFCC Ilorin Zonal Office, until they meet the conditions set by the Court for the bail.
The case has been adjourned till February 24, 2020 for commencement of trial.
Media & Publicity
February 10, 2020