A Federal High Court sitting in Ilorin on Monday granted bail of two hundred million naira to the Immediate past Commissioner for Finance in Kwara State, Alhaji Ademola Banu who is standing trial for money laundering to the tune of over four hundred million naira.
The 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 Justice Babangana Ashigar’s Court 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 with: conversion of the sum of #411,000,000.00 ( 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 Ashigar said the first and second defendant were addmitted to bail in the sum of two hundred million naira with one surety in like sum.
According to him ” 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 ”
The Judge 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 Kwara Commissioner for Finance and his Co Accused Person to remain in the Custody of the Economic and Financial Crimes Commission in Ilorin until they perfect their bail conditions.
The case has been adjourned till 24th February 2020 for commencement of trial.
Meanwhile, the premises of the Federal High Court filled to capacity with the family members, friends and associates of the Embattled ex Commissioner for Finance with solidarity song ” “Sai Banu, Sai Baba”
