The judge, Justice Nnamdi Dimgba, who granted the bail on
Thursday, ordered the applicant to produce two sureties in the sum of N250
million each. Dimgba said that the prosecution could not substantiate its claim
that the defendant would jump bail. “I
note that the offence the defendant is
charged with carries a sentence of three years imprisonment. “Under Section 162
of the Administration of Criminal Justice Act (ACJA), I am required to release
a person charged within the threshold of the penalties referenced above to
bail. “This is, however, except in circumstances where there is reasonable
ground to believe that the defendant when released on bail will commit another
offence.
“Taking a holistic appraisal of all the materials before me, I am not
convinced that the prosecution has provided sufficient evidence as to stop the
court from exercising it’s jurisdiction to grant bail.
“I hold, therefore, that
I am inclined to admit the defendant to bail and I so admit him,” Dimgba
declared. He added that every citizen charged with an offence was entitled to a
conducive environment devoid of fear to prepare his defence.
The judge held
that Agbele would forfeit the N500 million to the Federal Government if he
jumps bail. He said that the sureties could be private businessmen,
professionals or civil servants, adding that if in the civil service, he must
not be less than the rank of a director. Dimgba said that the sureties must
also be owners of property within the Federal Capital Territory and in Ikeja or
Victoria Island, Lagos.
The judge also ordered the defendant to deposit his
international passports with the registrar of the court and must not travel
abroad without the permission of the court. He further said that the trial
shall be accorded accelerated hearing and the defendant would remain in prison
custody until he perfected his bail conditions. He adjourned the case till Oct.
26 and Oct. 27 for hearing.
Agbele was arraigned by the Economic and Financial
Crimes Commission (EFCC) on Wednesday on an 11-count charge bordering on money
laundering. Agbele, had pleaded not guilty to all the charges. The others
charged with Agbele were Musliu Obanikoro, Lt. A. O Adewale, Tunde Oshinowo,
Olalekan Ogunseye, who are all still at large and Sylvan Mcnamara Limited.
Agbele and others are standing trial for conspiring among themselves to commit
an illegal act to launder N4.6 billion transferred from the Office of the
National Security (NSA).
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