Ex-Kwara commissioner gets N200m bail over 400m alleged money laundering

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Ilorin

A Federal High Court sitting in Ilorin on Monday, granted bail to the former Commissioner for Finance in Kwara state, Alhaji Ademola Banu, in the sum of N200 million.

The accused is standing trial for alleged money laundering to the tune of over N400 million.

Duaglobalnews recalls that the Ilorin Zonal Office of the Economic and Financial Crimes Commission ( EFCC) had on January 29, 2020 arraigned Banu and one Olarewaju Adeniyi before Justice Babangana Ashigar’s Court.on a nine-count charge bordering on money laundering.

The prosecution said, Olarewaju Adeniyi, Ademola Banu and Travel Messenger Limited, between January and December 2018 in Ilorin; within the jurisdiction of the Court, conspired among themselves to convert 411,00 million, property of Kwara State Government.

It said the accused reasonably ought to know that the sum was derived from fraud, and thereby committed an offence contrary to Section 18(a) of the money laundering (prohibition) (amendment) act, 2012 and punishable under section 15(3) and (4) of the same act. ”

Ruling on the bail application, Justice Ashigar  the also said first and second defendants were addmitted to bail in the sum of N200  million with one surety in like sum.

” The surety is to have a landed property in Ilorin and must submit the certificate of occupancy ( C of Os) to the Registrar of this honourable Court which should be verified by the EFCC, “he ordered.

The Judge also ordered the accused to deposit their international passports, including other travel documents,adding that they must not travel out of the country without the permission of the Court, pending the hearing and of the case.

He adjourned the case till February 24, 2020 for the commencement of trial.

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