A Lagos Federal High Court has granted bail to Gbenga Makanjuola, an aide to the Senate President, Bukola Saraki.
The Economic and Financial Crimes Commission, EFCC, had arraigned Makanjuola alongside a firm, Melrose General Services Limited; and one Obiorah Amobi before the Justice Babs Kuewumi-led court.
EFCC arraigned the accused persons on an 11-count charge bordering on conspiracy and money laundering.
They were accused of conspiring to disguise as the owner of N3.5 billion paid into the account of Melrose.
The prosecution informed the court that the accused persons took control of the money, which was transferred from Nigeria’s Governors Forum account, into an Access Bank account operated by Melrose.
However, the trial judge, Babs Kuewumi, on Tuesday granted Makanjuola a N250 million bail with two sureties in like sum.
The judge also granted Makanjuola’s co-defendants, Shittu and Amobi bail on the same conditions.
Kuewumi held that the sureties must be resident in Lagos and own landed properties.
The judge said they must be ready to submit their certificate of occupancy to the court’s registrar, pending the determination of the case.
Kuewumi stated that the sureties were also to show evidence of tax payment in the last three years as well as submit a letter of identification from their banks.