Court Grants N300million Bail To Embattled Ogun Speaker, Oluomo In N2.5billion Fraud Trial

There were no objections from the Economic and Financial Crimes Commission (EFCC), therefore bail was granted on Tuesday by a Federal High Court in Lagos State presided over by Justice Daniel Osiagor, according to Channels TV.
Olakunle Oluomo, speaker of the Ogun State House of Assembly, has been granted bail in the amount of N300 million with matching sureties.

There were no objections from the Economic and Financial Crimes Commission (EFCC), therefore bail was granted on Tuesday by a Federal High Court in Lagos State presided over by Justice Daniel Osiagor, according to Channels TV.

SaharaReporters has previously claimed that the Speaker had been charged with allegedly launder N2.5 billion in money.

SaharaReporters had earlier reported that the Speaker was arraigned over alleged N2.5billion money laundering charges.

The counsel for the EFCC, Rotimi Oyedepo, had told the court that he would leave the issue of bail solely within the discretion of the court.

The counsel to the Speaker, Kehinde Ogunwumiju (SAN), on his part asked the court to admit his client to bail on liberal terms.

In granting bail to the Speaker, Justice Osiagor held that one of his sureties must be not less than a level 16 officer in the Civil Service while the other must possess landed property within the court jurisdiction.

The court granted the second and third defendant bail in the sum of N100million with two sureties also in like sum.

One of their sureties must not be less than a level 14 officer in the civil service. The other must also possess landed property within the court jurisdiction.

All the sureties are to possess three-year tax clearance and swear to an affidavit of means.

All defendants are also to deposit their travel documents with the registrar of the court.

Pending when they meet their bail conditions, the defendants will be remanded in the custody of the EFCC for a week after which they will be transferred to the Abeokuta Division of the court for further orders on their remand.