Adekunle Jimoh, Ilorin
A Federal High Court sitting in Ilorin, the Kwara state capital Monday granted former commissioner for finance in the state, Ademola Banu to a bail of a sum of N200 million.
Alhaji Banu has been standing trial for alleged money laundering of a sum of N400 million Ilorin Zonal office of the Economic and Financial Crimes Commission (EFCC) had on the 29th of January 2020 arraigned Banu and one Olarewaju Adeniyi before the court on a nine count charge bordering on money laundering.
One of the counts reads: “That you, Olarewaju Adeniyi, Ademola Banu and Travel Messenger Limited between January to December 2018 in Ilorin within the jurisdiction of this honourable Court conspired among yourselves to commit an offence, to: conversion of the sum of N411,000,000.00 ( four hundred and eleven million naira) only property of Kwara state government, which sum you reasonably ought to know was derived from fraud, and thereby committed an offence contrary to section 18(a) of the money laundering (prohibition) (amendment) act, 2012 and punishable under section 15(3) and (4) of the same act.”
Ruling on the bail application on Monday, Justice Babangana Ashigar said the first and second defendants were admitted to bail in the sum of N200 million with one surety in 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.”
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.
Justice Ashigar further directed the ex-commissioner for finance and his co-accused person should remain in the custody of EFCC in Ilorin until they perfect their bail conditions.
He then adjourned the case to February 24th for commencement of trial.
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