TheCable

Nnamdi Dimgba of justice of the federal high court, Abuja, has granted Abiodun Agbele, an associate of Ayodele Fayose, Ekiti state governor, bail in the sum of N500m.

Agbele allegedly laundered the sum of N1.2bn from the office of the national security adviser (ONSA) under Sambo Dasuki.

On Wednesday, he was arraigned by the Economic and Financial Crimes Commission (EFCC) alongside a former minister of defence for state, Musliu Obanikoro; Sylvan Mcnamara limited; AO Adewale; Tunde Oshinowo and Olalekan Ogunseye (all at large) on an 11-count charge of money laundering.

According to the EFCC, 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, Dimgba admitted the defendant, Agbele to bail in the sum of N500million which will be forfeited to the federal government in the event he absconds.

The defendant must provide two sureties in the sum of N250million each. The sureties can be a private businessman, professional or civil servant of the rank of a director. The sureties must also have landed property 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.

He held that the defendant was to be remanded in prison pending the satisfaction of his bail conditions, and he adjourned the case to October 26 trial.