Ogun speaker pleads not guilty to N2.4bn fraud charge, gets N300m bail

Justice Daniel Osiagor of the Federal High Court in Lagos on Tuesday granted  bail  to Speaker of the Ogun State House of Assembly, Olakunle Oluomo, after pleading not guilty to a N2.4bn fraud charge levelled against him.

He was however asked to be remanded pending his fulfilment of an N300m bail bond.

Oluomo was arraigned by the Economic and Financial Crimes Commission over an allegation of N2.475bn accrued from money laundering and forgery charge.

The judge also granted bail to the Director of Finance at the House, Oladayo Samuel and the Clerk of the House, Taiwo Adeyemo, who were arraigned alongside Oluomo’s co-defendants on the same charge.

They all pleaded not guilty to the 11-count charge leveled  against them by the counsel to EFCC, Rotimi Oyedepo.

Oluomo was granted N300 million bail with two sureties in the like sum, on the condition that one of whom must not be lower than a level 16 civil servant in the federal civil service.

But Samuel and Adeyemo – 2nd and 3rd defendants – were admitted to bail in the sum of N100m each with two sureties each, on the condition that one of whom must not be lower than level 14 in the civil service.

The sureties are required to possess landed properties within the court’s jurisdiction and the Title documents are to be deposited with the court’s registrar, with  three-year tax clearance certificates and sworn to an affidavit of means.

All defendants are also required to deposit their travel documents in the court’s registry.

The court also ordered that the defendants be remanded in the EFCC’s custody for a maximum of one week to perfect all their bail conditions.