N1bn bail: Lagos Speaker may go to jail if...

JUSTICE Ibrahim Buba of the Federal High Court sitting in Lagos, on Monday, ordered that if the speaker of the Lagos State House of Assembly, Honourable Adeyemi Ikuforiji, fails to perfect his bail condition within 48 hours from Monday, he should be remanded in prison custody.
The speaker and his personal assistant, Oyebode Atoyebi, were, on Monday, re-arraigned before the judge by the Economic and Financial Crimes Commission (EFCC) on an amended 54-count charge bordering on money laundering.
The duo, however, pleaded not guilty to all counts and the prosecutor, Mr Godwin Obla, informed the court of the EFCC’s readiness to commence trial.
The defence counsel, Mr Tayo Oyetibo, however, at this point, applied that the accused be allowed to continue with the bail earlier granted them by the former trial judge, Justice Okechukwu Okeke.
Oyetibo informed the court that the accused was granted bail on self recognition, adding that the court should uphold same.
Also, Atoyebi’s counsel, Mr Tunde Akinrimisi, aligned with the submissions of Oyetibo, adding that his client was also admitted to bail by the former judge, with the clerk of Lagos House of Assembly standing as surety.
Their application was not opposed by the prosecutor, who urged the court to exercise its discretion judiciously.
But while ruling on the bail application, Justice Buba said he was not bound by the decision of his retired learned brother.
“The case is beginning afresh before this honourable court and so, I have the absolute discretion on the issue of bail. The accused are admitted to bail in the sum of N1 billion each with two sureties in the sum of N500 million each.
“The accused will be remanded in prison custody after 48 hours, if they fail to perfect their bail conditions,” he ruled.
He adjourned the case till September 25.
It will be recalled that the accused were first arraigned on March 1, 2012 before Justice Okeke on a 20-count charge.
The trial had commenced, but Justice Okeke adjourned the case sine die (indefinitely) due to the withdrawal of the prosecutor, Obla, who had informed the court of his engagements.
The case was, however, re-assigned to a new judge after the retirement of Justice Okeke, which led to the case commencing de novo (afresh).
They were alleged to have committed an illegal act of accepting cash payments amounting to N273,303,780 from the assembly without going through a financial institution.
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