ABUJA COURT GRANTS OLU AGUNLOYE BAIL OF N50m
The former minister of power and steel, Olu Agunloye, has been granted bail in the amount of N50 million by the FCT High Court in Apo.
The Economic and Financial Crimes Commission (EFCC) is prosecuting him over alleged fraudulent practices related to a $6 billion Mambilla hydropower contract.
Agunloye faced seven-count charges, including the fraudulent award of a contract and official corruption, during his arraignment on Wednesday 10th January 2024. Initially remanded in Kuje correctional centre, he secured bail pending further proceedings.
During Thursday's proceedings, Adeola Adedipe, the counsel for the former minister, urged the court for bail, suggesting self-recognizance or liberal terms. Adedipe argued that Agunloye posed no flight risk, refuting the prosecution's concerns as a result of misconceptions and communication barriers. He also appealed against using a public servant as surety, citing the case of Sambo Dasuki, emphasizing that such practice is not recognized by our laws.
Adedipe pointed to Section 352(4) of the Administration of Criminal Justice Act (ACJA) to address concerns about bail, asserting that even if a defendant absconds, the trial would continue.
Despite the prosecution's opposition, Judge Jude Onwuegbuzie ruled in favour of bail, setting it at N50 million and requiring two reputable sureties within the FCT, possessing properties worth N300 million with verifiable Certificates of Occupancy. The sureties must submit identity card copies and passport photocopies. Agunloye must surrender his international passport and remain present for all hearings. The case was adjourned to February 12.
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