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Court mandates N300m bail to Ogun Speaker.

Federal High Court Lagos

Olakunle Oluomo, the speaker of the Ogun State House of Assembly, and two other individuals were on Tuesday remanded in the custody of the Economic and Financial Crimes Commission due to alleged money laundering of N2.475 billion. 

They were to be held for one week in the custody of the EFCC, according to Justice Daniel Osiagor’s order. He also stated that if they didn’t comply with the bail requirement, they would be held at the Nigerian Correctional Service. 

The Speaker was charged by the EFCC on Tuesday with allegedly laundering N2.475 billion.

Oluomo was charged with 11 counts of conspiracy, forgery, theft, and money laundering along with Oladayo Samuel, Adeyemo Adedeji Taiwo, and Adeyanju Amoke (who is currently at large). These charges were brought by the EFCC. 

The defendants allegedly committed the claimed offenses between 2019 and 2022, according to EFCC prosecution attorney Rotimi Oyedepo. 

According to Oyedepo, they reportedly took N2.475 billion from the treasury of the Ogun State House of Assembly.

The defendants entered a plea of not guilty after the charge was read to them. 

When the case was called for arraignment on Tuesday, Mr. Kehinde Ogunwunmiju, SAN, appeared on behalf of the first defendant. Akinyemi Aremu and Oluwole Aladedoye represented the second and third defendants, respectively. 

Rotimi Oyedepo, the head of the EFFC’s legal monitoring unit in Lagos, filed the complaint at the Federal High Court in Abeokuta, Ogun State, on September 1. 

The Commission announced that it would present documents and artifacts as well as at least 10 witnesses to testify.

On the list of witnesses are Idowu Oluseyi Olarenwaju, Adamu Usman Yusuf, Otitoju Moses Kolawale, Yazid Ahmad Bawa, Anyanwu Bright, Adekunbi Mojibola, and Munkaila Huzaifa.

When deciding on the bail application, Justice Osiagor granted the first defendant bail in the amount of N300 million with two sureties in the same amount, one of whom could not be a federal civil servant below level 16. 

The second and third accused were each given a bail of N100 million, along with two sureties, each of whom had to be at least level 14 civil servants, as well. 

All sureties, according to him, must own land that is subject to the court’s jurisdiction, and title documents must be filed with the court’s register. 

Additionally, the sureties are required to sign an affidavit of means and have three-year tax clearance certificates.

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