Justice Nnamdi Dimgba of a Federal High Court in Abuja has granted bail to an associate of Governor Ayodele Fayose of Ekiti State, Mr. Abiodun Agbele, to the sum of N500 million.
He is to provide two sureties, a civil servant of the rank of a director, a businessman or professional in the sum of N250 million each.
The accused is to deposit his traveling documents with the court Registrar and must not travel without the court’s permission.
He will remain in prison pending the fulfillment of his bail conditions.
Agbele was arraigned on 11 counts of money laundering involving the sum of N1,219,000,000 said to be part of N4,685,723,000 allegedly transferred unlawfully from the account of the Office of the National Security Adviser.
Arraigned along with Agbele were three companies, Sylvan McNamara Limited, De Privateer Limited and Spotless Investment Limited.
Agbele pleaded not guilty to all the charges.