Court grants contractor N500m bail over money laundering charges

Justice

Mr Wilson Uwujaren, Head, Media and Publicity of the Economic and Financial Crime Commission (EFCC), made this known in a statement he issued and made available to the News Agency of Nigeria (NAN) in Abuja.

He said that Obadina was alleged to have collected money to the tune of N2.4 billion from the Office of the National Security Adviser (ONSA), under Col. Sambo Dasuki (rtd) purportedly for a phoney contract.

The statement said the amount was paid into his company’s account in tranches, between 2013 and 2015 from the account of the ONSA without contract award.

It said the offence was contrary to Section 15(2), (d) of the Money Laundering (Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.

Ruling on his bail application, Dimgba admitted the defendant to bail in the sum of N500 million which would be forfeited to the Federal Government in the event that he absconds.

It said the defendant must also provide two sureties in the sum of N250 million each and must enter a bail bond with the court.

It said the sureties could be a private businessman, professional or civil servant of the rank of a director.

The statement further said that the sureties must have landed property either in Asokoro, Maitama, Apo Legislative quarters or Wuse II areas of Abuja or Victoria Island, Lagos State.

It said the sureties should also provide evidence of income tax payment for three years.

Additionally, the statement said the defendant must deposit his international passport with the registrar of the court, and must go to the EFCC to comply with Section 15 of the Administration of Criminal Justice Act.

Furthermore, the defendant must submit himself for biodata collection, fingerprinting, snapshot and necessary profiling.

However, he would be remanded in prison custody pending the satisfaction of his bail conditions.

The matter was adjourned to Sept. 30 and Oct. 4, 2016 for trial, according to the statement.

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