Court grants ex-Kwara finance commissioner, Banu N200m bail
The Federal High Court in Ilorin has granted bail in the sum of N200m to the Immediate past Commissioner for Finance in Kwara State, Alhaji Ademola Banu who is standing trial for money laundering to the tune of over four hundred million naira.
Ruling on the bail application on Monday, Justice Ashigar said the first and second defendant were addmitted to bail in the sum of two hundred million naira with one surety in like sum.
According to him, “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.”
The Judge ordered the accused persons to deposit their international passports including other travel documents and must not travel out of the Country without the permission of the Court pending the hearing and determination of the case.
Justice Ashigar further directed the Ex Kwara Commissioner for Finance and his Co-accused Person to remain in the Custody of the Economic and Financial Crimes Commission in Ilorin until they perfect their bail conditions.
He adjourned till February 24th for trial to commence.
Recall that the Ilorin Zonal Office of the Economic and Financial Crimes Commission (EFCC) had on the 29th of January 2020 arraigned Banu and one Olarewaju Adeniyi before Justice Babangana Ashigar’s Court on a nine count charge bordering on money laundering.
