A High Court of the Federal Capital Territory (FCT) in Apo, Abuja, has granted a bail of N50 million to former Minister of Power and Steel, Olu Agunloye.
In a ruling yesterday, Justice Jude Onwuegbuzie order Agunloye to produce two sureties who must be “reputable” and be “people of means” residing within the FCT.
He directed that the sureties must have property worth N300 million within the court’s jurisdiction with a Certificate of Occupancy (C of O) that must be verified by officials of the court.
The defendant, the judge said, must deposit his travel documents with the court.
The ruling was on a motion for bail filed for Agunloye and argued by his lawyer, Adeola Adedipe (SAN).
Agunloye was arraigned on Wednesday on a seven-count charge filed against him by the Economic and Financial Crimes Commission (EFCC).
He is, among others, accused of accepting bribe,
engaging in forgery, disobedience to presidential directive and conspiracy.
The ex-minister, who is the sole defendant in the charge, was said to have conspired with Leno Adesanya (said to be on the run) of Sunrise Power and Transmission Company Limited (SPTCL) in allegedly committing the said offences.
The defendant was accused of receiving a bribe totalling N5,221,000.00 from Adesanya and SPTCL on the award of the contract for the construction of 3,960 megawatts (MW) Mambilla Hydroelectric Power Station in favour of SPTCL while in office in 2003.
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He pleaded not guilty when the charge was read to him on Wednesday.
Arguing the motion for bail yesterday, Adedipe prayed the court to admit his client to bail on self-recognisance.
The lawyer argued that, as against the impression created by the prosecution, his client was not a flight risk.
He added that should the court insist on granting his client a conditional bail, he should not be required to produce a public servant as a surety.
Adedipe said the misconception about bail and what he called the mischief referred to by the prosecution had been addressed by the provision of Section 352(4) of the Administration of Criminal Justice Act (ACJA).
The lawyer averred that by the provision, “once a defendant is admitted to bail, even if he absconds, the trial will continue and he will be convicted where necessary”.
Prosecuting lawyer, Abba Mohammed, objected to the defendant’s request for bail, arguing that Agunloye may not make himself available to stand trial.