They are standing trial on an 11-count charge of alleged fraud to the tune of N3.5 billion to which they have pleaded not guilty.
An aide of the Senate President, Gbenga Makanjuola, standing trial for alleged N3.5 billion fraud, has been admitted to bail in the sum of N250 million by a Federal High Court sitting in Lagos.
The court also granted bail in like sum to three others; Melrose General Services Ltd., Obiorah Amobi, (Operations Manager at Melrose), and Kolawole Shittu, a cashier.
They are standing trial on an 11-count charge of alleged fraud to the tune of N3.5 billion to which they have pleaded not guilty.
Ruling on the bail application, Justice Babs Kuewumi, said the court had the discretion to grant bail, which must be exercised judicially and judiciously.
Pointing out that bail was not meant to serve as punishment, but rather to enable the accused appear and stand trial, the judge said one of the key factors that the court looks at when exercising its discretion was the ability of the accused to stand trial, giving that an accused is presumed innocent until proven guilty.
“On the whole, I have not been shown any proof that the accused will not stand trial to warrant refusing bail. The accused are hereby granted bail in the sum of N250 million each, with two sureties each in like sum,” he therefore ruled.
Justice Kuewumi also ruled that the sureties must own landed properties within Lagos Metropolis. They must also deposit four recent passport photographs and a letter of Identification to the Court’s Registrar as part of the bail conditions.
Makanjuola, a deputy chief of Staff to Saraki along with other defendants were arraigned before the court by the Economic and Financial Crimes Commission (EFCC) alleging that they committed the offence in December 2016.
According to the financial crime body, the defendants conspired to disguise the unlawful origin of the sum of N3.5 billion paid into the account of Melrose General Services Ltd, contrary to the provisions of Sections 15, 15 (2), 15(3), 18, and 18 (a) of the Money Laundering Prohibition Amendment Act 2011.
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It alleged that the said sum was transferred from the Nigeria’s Governors Forum account, into a new generation bank account being operated by Melrose.
The prosecution said that the accused ought to have known that the sum represented proceeds of unlawful activities.
Further hearing has been adjourned till Dec. 4.