By Onyewuchi Ojinnaka
Abdulahi Babalele, Finance Director in Atiku Group of Companies and son in-law to former Vice President, Atiku Abubakar and presidential candidate of People’s Democratic Party in 2019 general elections was on Thursday granted bail in the sum of N20 million with one surety in like sum by Justice Nicholas Oweibo of the Federal High Court sitting in Lagos, Nigeria.
In his ruling after arguments by counsel to parties, Justice Oweibo said that the sureties should be resident within the court’s jurisdiction.
In addition, he should be a property owner; deposit his international passport with court and to be remanded in the Economic and Financial Crimes Commission (EFCC) custody.
The judge adjourned the matter till October 8 for trial.
The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned Babalele before Justice Oweibo on two counts charge bordering on money laundering.
After hearing the charge preferred against him, the defendant pleaded not guilty to the charge.
The EFCC prosecutor, Rotimi Oyedepo in his submission, asked for a trial date in view of the plea of the defendant.
Counsel to Babalele, Mike Ozekhome informed the court that the defendant had filed an application for bail which was served to the prosecution.
Oyedepo admitted receipt of the process but said that he will respond to it and serve his counter affidavit to defence counsel.
In view of the development, parties agreed to come back on Thursday, August 15 for the court to hear and determine the application.
Consequently, Justice Oweibo adjourned the matter till Thursday for hearing of bail application and ordered the defendant to remain in the EFCC custody.
In the two counts charge, Abdulahi Babalele was alleged to have on or about the 20th day of February, 2019, in Nigeria within the jurisdiction of the court, procured and aided one Bashir Mohammed to make cash payment of the sum of USD140,000 without going through financial institution, which sum exceeded the amount authorised by law and thereby committed offences contrary to Sections 18 (c) and 18 (a) of the Money Laundering Prohibition Act 2011, and punishable under Section 16 (2) (b) of the same Act.
