N4 billion Money Laundering: Court Grants Fayose’s Ally Agbele Bail

Posted by African Examiner Featured, Latest Headlines, News, Uncategorized Thursday, July 21st, 2016

By Ganiyu Nasirudeen

ABUJA, NIGERIA (AFRICAN EXAMINER) – A Federal High Court sitting in Abuja has granted bail to a former ally of Ekiti State Governor Ayo Fayose, Mr. Abiodun Agbele who is being held by the Economic and Financial Crimes Commission (EFCC), on his alleged role in the handling of over N1.2 billion to fund Fayose June 2014 Ekiti Governorship election.

Agbele allegedly received the money from the former Minister of State For Defence Musiliu Obanikoro who allegedly ferried the cash in FOREX to Akure, the Ondo State capital. He later coordinated deposit of the cash to various Bank accounts with links to Governor Fayose.

The suspect was arrested by the EFCC on June 27, 2016 in Lagos on the alleged money laundering. Obanikoro allegedly received via a private firm over N4 billion from the office of former National Security Adviser (NSA), Col (rtd) Sambo Dasuki.

Justice Olukayode Adeniyi in his ruling Thursday held that the detention of the suspect for over three weeks, without trial as well as absence of valid remand order was a gross violation of his right under the law.

Similarly, Justice Adeniyi ruled that the order of remand dated June 30, 2016, which was obtained by the EFCC‎ from a Lagos Magistrate in Ogba, to keep the suspect for 14 days, was no more valid, having transferred him from Lagos to Abuja.

Consequently, the jurist held that the EFCC remand order issued by the lower court was of no effect as the suspect’s new location is off the jurisdiction of the previous court.

The bail bond is in the sum of N50 million; with one surety who the court ruled must either be at least a Director in the Federal Civil Service or any of its agencies. The surety must also have property in Abuja. He was also given options of providing a responsible Nigeria with a verifiable address in Abuja or with properties in the city with valid title documents.