Federal Capital Territory (FCT) High Court in Apo has granted bail to former Minister of Power and Steel, Olu Agunloye in the sum of N50m.
Gatekeepers News reports that Agunloye is currently remanded in Kuje Correctional Service by a Federal High Court in Abuja.
The Economic and Financial Crimes Commission (EFCC) on Wednesday, arraigned Agunloye on allegations of fraud – a $6 billion Mambilla hydropower contract.
Agunloye was arraigned on seven-count charges, bordering on fraudulent award of a contract and official corruption.
Justice Jude Onwuegbuzie had ordered his remand in Kuje correctional centre pending a hearing and ruling on the bail application.
Counsel to the former Minister, Adeola Adedipe, while moving the application on Thursday, prayed the court to grant bail to his client “by way of self-recognisance or in liberal terms.”
Adedipe said Argunloye is not a flight risk and that the notion canvassed by the prosecution was “borne out of misconception and communication barrier.”
He further appealed to the court not to order the use of a public servant as surety for his client.
The senior lawyer, while citing the case of former National Security Adviser (NSA) Sambo Dasuki in Dasuki v DG SSS (2020) Part 1731 NWLR, submitted that public officers should not be used as sureties, because the court of appeal found such conduct to be “unknown to our laws”; especially because corruption is encouraged that way.
He also argued that the apprehensive misconception about bail and the mischief argued by the prosecution has been solved by Section 352( 4) of the Administration of Criminal Justice Act (ACJA).
Under this provision, Adeola said, “Once a defendant is admitted to bail, even if he absconds, the trial will continue and he will be convicted where necessary.”
However, the prosecution counsel opposed the bail application.
The presiding judge, Justice Onwuegbuzie said the pendulum of the court swings in favour of granting bail to the defendant.
Onwuegbuzie granted N50 million bail to the Agunloye and ordered him to produce two sureties in like sum.
The sureties must:
- Be a “reputable” and “people of means” resident within the FCT.
- Must have properties worth N300 million with a Certificate of Occupancy that must be verifiable.
- Must submit copies of their identity cards and photocopies of their international passports to the court.
Justice Onwuegbuzie added that the defendant must submit his international passport to the court and must be present for the hearing at all times.
The matter was thereafter adjourned to February 12 for hearing.
