Justice Sulaiman Hassan, of a Lagos Federal High Court, has admitted bail to the two former Ministers and chieftains of People's Democracy Party (PDP), Nenadi Esther Usman and Mr. Femi Fani-kayode and one Danjuman Yussuf, who were charged before the court, on alleged N4. 9 billion, in the sum of two hundred and fifty million naira with two sureties in the like sum.
The judge also ordered that the sureties must be landed properties owners within the jurisdiction of the court, which it's title documents must be verified within seven days.
Justice Hassan also ordered the three defendants to deposit their international traveling passport with the court's Deputy Chief Registrar (DCR), while equally ordered that they should be returned to prisons' custody pending the perfection of the bail conditions.
The matter has been adjourned till October 19, 20 and 21 for the trial of the three defendants.
Granting the defendants' bail applications, the judge upheld the submissions of the defendants 'lawyers, Mr. Ferdinand Orbih (SAN), Ifedayo Adedipe (SAN) and Mr. S. I. Ameh, which had urged the court to admit their clients' bail in the most liberal terms.
In opposing the bail applications, the prosecution, led by Mr. Rotimi Oyedepo and Mr. Mark Ananna, had urged the court to discontinuance the defendants' bail applications on the ground that they may likely tamper with the evidence and interfere with the witnesses.
The three accused persons, and a limited liability company, Jointrust Dimentions Nigeria Limited, were arraigned before the court last Tuesday, on a 17 count-charge bordering on Fraud, Stealing and corruption.
The EFCC in a charge marked FHC/L/C/251c/2016, alleged that the accused person, Usman, a former Minister of Finance, under president Goodluck Jonathan Administration, Mr. Femi Fani-kayode, who is also the Goodluck Jonathan Campaign Organization, Danjuma Yusuf and the limited liability company, Jointrust Dimentions Nigeria Limited, had on or before January 2015, unlawfully retained the total sum of N4. 6 billion, which was they knew to have be proceeds from an unlawful act.
While the former State Minister for Finance, Danjuma Yusuf and Jointrust Dimentions Nigeria Limited retained the sum of N1.5 billion, Femi Fani-kayode and Olubode Oke, said to be at large, were alleged to have retained the total sum of N1,650,650 billion.
The accused persons were also alleged to have made payment of several amounts running to billions on Naira without going through Financial institutions.
The offences according to the anti-graft agency are contrary to sections 1(a), Section 15(2)(d), 16(d), 18(a), 16(d) 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3), 16(2)(b) and 4 of the same Act.
Count one of the charge reads;
That you, Nnenadi Esther Usman, Femu Fani-kayode, Danjuma Yusuf and Jointrust Dimentions Nigeria Limited, on or about the 8th day of January, 2015, within the jurisdiction of this Honourable Court conspired amongst yourselves to indirectly retain the sum of N1,500, 000,000.00 (One Billion, Five Hundred Million Naira) which sum you reasonably ought to have known forms part of the proceeds of an unlawful act to wit: stealing, and you thereby committed an offence contrary to Section 15(2)(d), 16(d), 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3) & 4 of the same Act."
While count 17 reads; "that you Femi Fani-kayode and Olubode Oke (still at large) on or about the 12th day of February, 2015 in Lagos, within the jurisdiction of this Honourable Court without going through a financial institution made cash payment in the sum of N6,000,000. 000 (Six Million Naira) to Paste Poster Co (PPC) of 125, Lewis Street, Lagos Island, Lagos which sum exceeded the amount authorized by Law and you thereby committed an offence contrary to Section 1(a), Section 16(d) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 16(2)(b) of the same Act."
The judge also ordered that the sureties must be landed properties owners within the jurisdiction of the court, which it's title documents must be verified within seven days.
Justice Hassan also ordered the three defendants to deposit their international traveling passport with the court's Deputy Chief Registrar (DCR), while equally ordered that they should be returned to prisons' custody pending the perfection of the bail conditions.
The matter has been adjourned till October 19, 20 and 21 for the trial of the three defendants.
Granting the defendants' bail applications, the judge upheld the submissions of the defendants 'lawyers, Mr. Ferdinand Orbih (SAN), Ifedayo Adedipe (SAN) and Mr. S. I. Ameh, which had urged the court to admit their clients' bail in the most liberal terms.
In opposing the bail applications, the prosecution, led by Mr. Rotimi Oyedepo and Mr. Mark Ananna, had urged the court to discontinuance the defendants' bail applications on the ground that they may likely tamper with the evidence and interfere with the witnesses.
The three accused persons, and a limited liability company, Jointrust Dimentions Nigeria Limited, were arraigned before the court last Tuesday, on a 17 count-charge bordering on Fraud, Stealing and corruption.
The EFCC in a charge marked FHC/L/C/251c/2016, alleged that the accused person, Usman, a former Minister of Finance, under president Goodluck Jonathan Administration, Mr. Femi Fani-kayode, who is also the Goodluck Jonathan Campaign Organization, Danjuma Yusuf and the limited liability company, Jointrust Dimentions Nigeria Limited, had on or before January 2015, unlawfully retained the total sum of N4. 6 billion, which was they knew to have be proceeds from an unlawful act.
While the former State Minister for Finance, Danjuma Yusuf and Jointrust Dimentions Nigeria Limited retained the sum of N1.5 billion, Femi Fani-kayode and Olubode Oke, said to be at large, were alleged to have retained the total sum of N1,650,650 billion.
The accused persons were also alleged to have made payment of several amounts running to billions on Naira without going through Financial institutions.
The offences according to the anti-graft agency are contrary to sections 1(a), Section 15(2)(d), 16(d), 18(a), 16(d) 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3), 16(2)(b) and 4 of the same Act.
Count one of the charge reads;
That you, Nnenadi Esther Usman, Femu Fani-kayode, Danjuma Yusuf and Jointrust Dimentions Nigeria Limited, on or about the 8th day of January, 2015, within the jurisdiction of this Honourable Court conspired amongst yourselves to indirectly retain the sum of N1,500, 000,000.00 (One Billion, Five Hundred Million Naira) which sum you reasonably ought to have known forms part of the proceeds of an unlawful act to wit: stealing, and you thereby committed an offence contrary to Section 15(2)(d), 16(d), 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3) & 4 of the same Act."
While count 17 reads; "that you Femi Fani-kayode and Olubode Oke (still at large) on or about the 12th day of February, 2015 in Lagos, within the jurisdiction of this Honourable Court without going through a financial institution made cash payment in the sum of N6,000,000. 000 (Six Million Naira) to Paste Poster Co (PPC) of 125, Lewis Street, Lagos Island, Lagos which sum exceeded the amount authorized by Law and you thereby committed an offence contrary to Section 1(a), Section 16(d) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 16(2)(b) of the same Act."
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