Justice Nnamdi Dimgba of the Federal High Court sitting in Maitama, Abuja, has granted bail to Abiodun Agbele, an associate of Governor Ayodele Fayose of Ekiti State, who allegedly laundered the sum of N1.2 billion from the Office of the National Security Adviser, ONSA, with the Central Bank of Nigeria under Col. Mohammed Sambo Dasuki (rtd).
Agbele was arraigned on Wednesday, by the Economic and Financial Crimes Commission, EFCC, alongside a former Minister of Defence for State, Musliu Obanikoro; Sylvan Mcnamara Limited; Lt. A.O Adewale; Tunde Oshinowo and Olalekan Ogunseye (all at large) on an 11-count charge of money laundering.
The offence is contrary to Section 18(a) of the Money Laundering (Prohibition) Act, 2011 (as amended in 2012) and punishable under Section 15 (3) of the same Act.
Ruling on his bail application, Justice Dimgba admitted the defendant, Agbele to bail in the sum of N500 million which will be forfeited to the Federal Government in the event he absconds.
The defendant must provide two sureties in the sum of N250 million each. The sureties can be a private businessman, professional or civil servant of the rank of a director.
The sureties must also have landed properties either in Abuja Metropolis, or Victoria Island, Lagos State.
The judge further ruled that the defendant must deposit his international passport with the registrar of the court, and must not travel without the court’s permission.
He added that, the case would be given accelerated hearing.
The defendant is to be remanded in prison pending the satisfaction of his bail conditions while the case is adjourned to October 26 and 27, 2016 for trial.
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