From Adekunle Jimoh, Ilorin
A Federal High Court in Ilorin, Kwara State, on Monday granted former Commissioner for Finance Ademola Banu N200 million bail.
He has been standing trial for alleged money laundering of N400 million.
The Ilorin Zonal office of the Economic and Financial Crimes Commission (EFCC) on January 29 arraigned Banu and Olarewaju Adeniyi before the court on a nine-count charge bordering on money laundering.
Ruling on the bail application, Justice Babangana Ashigar said the first and second defendants were admitted to bail in the sum of N200 million with one surety in the like sum.
The judge added that “the surety is to have a landed property in Ilorin and must submit the Certificate of Occupancy (C of Os) to the “registrar of this honourable court, which should be verified by the EFCC.”
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He ordered the accused persons 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.
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