A Federal Capital Territory Excessive Courtroom in Apo on Thursday granted bail of N50 million to a former Minister of Energy and Metal, Olu Agunloye.
The courtroom had ordered his remand on the Kuje Correctional Service pending the listening to of his bail utility over alleged $6 billion fraud associated to the Mambilla Hydroelectric Energy Station.
Agunloye served as a minister beneath former President Olusegun Obasanjo's administration between 1999 and 2003.
The Financial and Monetary Crimes Fee on Wednesday introduced Agunloye to courtroom, JO Onwuegbuzie, the place he pleaded not responsible to the fees learn to him.
The previous minister's lawyer, Adeola Adedipe, filed the applying asking the courtroom to grant bail to his shopper by means of self-recognition or in liberal phrases, saying Argunloye is just not a flight threat and the concept by the prosecution prompt “wasn't proper”. of misconceptions and communication boundaries.”
Adedipe additionally appealed to the courtroom to not order the deployment of a public servant as surety for his shopper.
The counsel submitted that the misperception relating to bail and the mischief alleged by the prosecution have been remedied by Part 352(4) of the Prison Justice Act.
Beneath this provision, Adeola mentioned: “As soon as a suspect is launched on bail, even when he absconds, the trial will proceed and he will likely be convicted the place essential.”
Nonetheless, the general public prosecutor opposed the bail utility.
In his judgment, Justice Onwuegbuzie dominated that bail of N50 million be granted to the defendant and ordered him to supply two sureties in the identical quantity.
The guarantors have to be 'respected' and 'folks of means' dwelling throughout the FCT.
They should have properties value N300 million with a certificates of occupancy which have to be verifiable, the decide dominated.
