Court grants former minister of power #50million bail
High court sitting in Abuja, the federal capital territory has today granted bail to former Minister of Power and Steel, Olu Agunloye to the tune of N50 million.
The ruling was given by Justice Jude Onwuegbuzie after Dr. Agunloye was arraigned on seven counts bordering on fraudulent award of a contract and official corruption, on Wednesday.
He was then remanded in Kuje Correctional Centre pending hearing and ruling on the bail application.
Moving the application, the Counsel for the former minister, Adeola Adedipe, prayed the court to grant bail to his client by way of self-recognisance or in liberal terms.
The counsel said the former minister is not a flight risk and that the notion canvassed by the prosecution was “born out of misconception and communication barrier” and appealed to the court not to order the use of a public servant as surety for his client.
Olu Agunloye
photo credit: EFCC
The judge then granted the defendant N50 million bail and ordered him to produce two sureties in like sum.
The sureties must be “reputable” and “people of means” resident within the FCT and must have properties worth N300 million with a Certificate of Occupancy that must be verifiable.
In addition, they must submit copies of their identity card and photocopies of their international passports to the court.
The defendant is to submit his passport to the court and must be present for hearing at all times.
The matter was then adjourned to February 12.
Dolupo Balogun
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