TheCable

The federal high court in Lagos has granted bail to Gbenga Makanjuola, an aide of Senate President Bukola Saraki, who was accused of fraudulent transaction.

On Tuesday, Babs Kuewumi, the judge, granted Makanjuola a N250 million bail with two sureties in like sum.

The Economic and Financial Crimes Commission (EFCC) had on October 3 preferred an 11-count charge against Makanjuola, Obiorah Amobi and a company, Melrose General Services Ltd, bordering on allegations of fraud.

The accused were said to have conspired to disguise as the owner of N3.5 billion paid into the account of Melrose.

According to the prosecution, the accused took control of the money which was transferred from the Nigeria’s Governors Forum account, into an Access Bank account operated by Melrose.

Makanjuola’s co-defendants, Kolawole Shittu and Obiorah Amobi, were equally granted bail on the same conditions.

Kuewumi  said the sureties must be resident in Lagos and own landed properties.

He added that they must be ready to submit their certificate of occupancy to the court’s registrar, pending the determination of the case

The sureties were also to show evidence of tax payment in the last three years as well as submit a letter of identification from their banks.