N35.6m fraud: Deji Abiola gets N6m bail

LAGOS— Justice Adeniyi Onigbanjo of an Ikeja High Court, yesterday, granted N2 million bail to Mr. Deji Abiola, second son of the late politician, Bashorun M.K.O. Abiola, in a N35.5 million fraud-related offence brought against him.
He was arraigned on a one-count charge of stealing and fraudulent conversion by the Economic and Financial Crimes Commission, EFCC.
He was accused of collecting the sum of N35.5 million from one Mr. Jide Jose, under the pretext of importing printing machines from Switzerland.

From left; Mr. Deji Abiola, Son of Late Chief MKO Abiola arraigned at Ikeja High Court by EFCC, with him Wuraola Abiola and anEFCC officer yesterday

The Judge granted him bail in the sum of N2 million with two sureties in like sum. The court said one of the sureties must be a relative while the other should be a non-relative, with both of them resident in Lagos and must produce evidence of three years tax clearance before the court.
The judge also ordered Deji to deposit his international passports with EFCC which must be released only with the express permission of the court.
It also ordered that an operative of EFCC must verify the business and residential addresses of the two sureties and make a report to the court’s registrar.
Abiola was ordered to be kept in EFCC custody pending the perfection of his bail conditions.
The matter was adjourned to September 22 for commencement of trial. EFCC had claimed that Abiola had failed to supply the said machines and converted the money to his personal use.
The offence, according to EFCC, contravenes Section 390 (7) of the Criminal Code Law, Cap C17, Laws of Lagos State 2003.
Abiola had pleaded not guilty to the charge and the court proceeded to hear the bail application filed by his lawyer, Mr. O. A. Fasugba.
Fasugba urged the court to grant the accused bail on very lenient terms, adding that his alleged offence was a bailable one.
He argued: “The matter arose out of a mere commercial transaction between my client and the complainant where there was an alleged breach of contract.”
But Omezia had opposed the bail application alleging that Abiola had in the past attempted to compromise the EFCC’s investigation of the matter by bribing one Katongo and Jamila with N20,000.

Culled from : Vanguard Newspaper