A federal high court in Lagos has granted a N300 million bail to Olakunle Oluomo, the speaker of the Ogun House of Assembly, who was charged by the Economic and Financial Crimes Commission with allegedly laundering N2.5 billion.
On Tuesday, September 6, Oluomo was granted bail by Justice Daniel Osiagor without the EFCC objecting.
Rotimi Oyedepo, the attorney for the Economic and Financial Crimes Commission, stated at the court hearing that he would leave the decision on bail entirely up to the judge’s discretion.
Kehinde Ogunwumiju (SAN), the Speaker’s attorney, requested the court to grant his client lenient bail conditions.
Justice Osiagor granted bail to the Speaker but stipulated that one of his sureties must be at least a level 16 civil service officer and the other must own land that is subject to the court’s jurisdiction.
The second and third defendants were given bail in the amount of N100m with two additional sureties in the same amount.
A level 14 officer in the civil service must be at least one of their sureties. The other party must likewise own land that is subject to the court’s jurisdiction.
All of the sureties must sign an affidavit of means and have a three-year tax clearance. Additionally, each defendant must leave their travel documentation with the court’s registrar.
The defendants will be held in the care of the EFCC on remand for a week until they comply with their bail requirements. Then, they will be moved to the Abeokuta Division of the court for further orders on their remand.