Justice A.O.Okunuga of a Lagos State High Court sitting in Ikeja, Lagos has granted bail to a businesswoman, Olubunmi Akintoye Adeola, who is being prosecuted for an alleged N233m fraud, in the sum of N400m.
The Lagos Command of the Economic and Financial Crimes Commission (EFCC) had, on Wednesday, 25th May 2022, arraigned Adeola on a 12-count charge bordering on stealing and possession of fraudulent documents to the tune of Two Hundred and Thirty-Three Million Naira (N233, 000,000.00) only.
One of the counts reads: “That you, Olubunmi Akintoye Adeola (Trading under the name and style of Fola Mart International), on or about the 11th October 2021 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your use the sum of Twenty-Five Million Naira
(N25,000,000.00) only, property of Alhaja Bolaji Fowosire and Iceland International Limited.”
Another count reads: “That you, Olubunmi Akintoye Adeola (Trading under the name and style of Fola Mart International), on or about the 12th October 2021 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your use the sum of Thirty Million Naira (N30,000,000.00) only property of Alhaja Bolaji Fowosire and Iceland International Limited.”
She pleaded “not guilty” to the charge when it was read to her.
Following her plea, the prosecuting counsel, M. K. Bashir, had prayed the court for a trial date and also for the remand of the defendant at the facility of the Nigerian Correctional Service.
The defence counsel, M.A. Bala, had informed the court about a bail application dated 9th May 2022 for the defendant and also prayed for a short date for a bail hearing.
Consequently, Justice Okunuga had adjourned till Wednesday, 1st June 2022 for a bail hearing and also ordered that the defendant be remanded at Kirikiri correctional facility, Lagos.
Ruling on the bail application on 6th June 2022, Justice Okunuga granted the defendant bail in the sum of N400 million with two sureties in like sum.
One of the sureties must be a blood relative of the defendant, while the other must possess a property in Lagos with a CofO, which must be verified.
The sureties, who must have evidence of Lagos tax clearance, are also to produce their passports.
The matter was adjourned till 11th and 12th July 2022 for trial.