EFCC alleged that Shasore made a cash payment of 100,000 dollars to one Ikechukwu Oguine without going through a financial institution.
By Jude-Ken Ojinnaka
A former Attorney General of Lagos State Olasupo Shasore (SAN) was admitted to bail in self-recognition by a Federal High Court sitting in Lagos on Thursday.
Olasupo Shasore (SAN) appeared before a Federal High Court in Lagos to answer a money laundering charge preferred against him by the Economic and Financial Crimes Commission (EFCC)
Shasore served as the Attorney-General of Lagos State and Commissioner for Justice during the tenure of Mr Babatunde Fashola.
He was arraigned before Justice Chukwujekwu Aneke on a four counts charge bordering on money laundering.
The prosecution accused the defendant of inducing one Olufolakemi Adetore to accept cash payment without going through a financial institution.
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He, however, pleaded not guilty to the charge.
After his plea, the prosecutor, Mr Bala Sanga urged the court to order a remand of the defendant in custody pending trial
Meanwhile, defence counsel, Mr Charles A Candide-Johnson (SAN) who appeared with Mr Muiz Banire (SAN), Adesegun Adebola SAN, and Chijioke Okoki SAN, prayed the court to allow the defendant bail on his self-recognizance.
Defence counsel averred that the defendant personally walked into the court from his home for his arraignment this morning without any reminder, compulsion, or force
He also informed the court that the defendant had cooperated with the anti-graft agency whenever required, as he had always made himself as well as documents available whenever needed.
Besides, defence counsel, added that the investigation of the matter had been on for three years, adding that the defendant is not a flight risk
He, therefore, urged the court to exercise its discretion in favour of the defence.
The prosecutor on his part said he was not opposed to bail, but added that the concern of the prosecution is only for the defendant to be available to stand trial as lawfully required.
Following the submissions by counsel, the court stood down the matter for a while, so as to deliver a ruling on the bail application
In his ruling, the court held: “There is no doubt that the court must strike a balance based on the evidence before it, between the constitutional rights of the defendant to liberty and presumption of innocence and the rights of the state to prosecute its erring citizens.
“Hence the overriding need by the court to ensure that the complainant/respondent is not incapacitated in the discharge of its function by not releasing the defendant on bail,” he said
The court held that exercising discretion in granting bail in favour of the applicant, will better serve the course of justice, as an accused is presumed innocent until guilt is proven.
“The defendant’s application for bail succeeds and bail is accordingly granted in the following terms:
“Defendant/applicant is admitted to bail in the sum of N50 million with one surety in like sum.
“The surety must be a serving director or permanent secretary in the service of the federation or Lagos state government
“Surety to produce two copies each of his or her recent passport photograph and evidence of payment of tax clearance
“The defendant’s international passport with the complainant shall be deposited with the registrar of this court pending trial; This is the ruling of the honourable court,” the judge said
Meanwhile, the court did not make any remand orders on the defendant who was already on bail by EFCC.
The court, however, released him to his lawyers pending the perfection of his bail.
He adjourned the case until November 24 for trial.
In the charge, the former AG was alleged to have made a cash payment of 100,000 dollars to one Olufolakemi Adelore through one Auwalu Habu and Wole Aboderin.
Shasore was alleged to have committed the offences on or about November 18, 2014.
EFCC also alleged that the defendant made a cash payment of 100,000 dollars to one Ikechukwu Oguine without going through a financial institution.
The offences contravene the provisions of Sections 1(a) 16(1)(d), 18(c) and 78(c) of the Money Laundering (Prohibition) Act, 2011 (as amended).
