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Alleged money laundering: Ex-Kwara commissioner gets N200m bail

A Federal High Court sitting in Ilorin on Monday granted bail in the sum of N200 million to the immediate-past Kwara State Commissioner for Finance, …

A Federal High Court sitting in Ilorin on Monday granted bail in the sum of N200 million to the immediate-past Kwara State Commissioner for Finance,  Alhaji Ademola Banu, who was standing trial for money laundering to the tune of over N400 million.

The Ilorin Zonal Office of the Economic and Financial Crimes Commission (EFCC) had on the 29th of January, 2020 arraigned him and one Olarewaju Adeniyi before Justice Babangana Ashigar’s on a nine count charge bordering on money laundering.

Count one of the charge 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 wit: conversion of the sum of N411,000,000.00 (four hundred and eleven million naira) 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, Justice Ashigar said the first and second defendant were admitted to bail in the sum of N200 million with one surety in like sum who must have a landed property in Ilorin and must submit the certificate of occupancy (C of Os) to the court registrar.

Justice Ashigar further directed that they should remain in the EFCC custody in Ilorin until they perfect the bail conditions.

The case was adjourned to February 24, 2020 for the commencement of trial.

 

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