Money laundering: Court releases Nyako, son, others on bail

Hamilton Nwosa
Writer

Ad

Dangote Vs PENGASSAN Face-off Escalates as NLC Orders Nationwide Strike

By Abiola Olawale The face-off between Dangote Refinery, owned by Africa's richest man, Aliko Dangote, and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has continued to escalate as the Nigeria Labour Congress (NLC) has ordered full-scale mobilization of its affiliate unions for a nationwide strike. The NLC said it ordered the…

PSC warns senior officers: fail promotion exam three times, face retirement

By Obinna Uballa The Police Service Commission (PSC) on Monday conducted a compulsory promotion examination for 30 senior police officers in Abuja, with a stern warning that those who fail the test three times will be forced into retirement. The exercise, held at the Commission’s headquarters, involved one Assistant Inspector-General of Police, two Commissioners of…

Brent Prices Retreat below $70 as OPEC+ Mulls Another Output Hike

Brent Crude prices dropped below $70 per barrel, and WTI Crude slipped below $65, due to increased supply and expectations of further output hikes from OPEC+. Iraq resumed crude oil exports from Kurdistan via a pipeline to Turkey, adding an estimated 230,000 barrels per day to the global oil market after a two-and-a-half-year halt. OPEC+…

Ad

Nyako-GovTwo days after they were remanded in the custody of the Economic and Financial Crimes Commission, EFCC, over charges bothering on money laundering, former Governor of Adamawa State, Admiral Murtala Nyako (rtd)  and his son, Abdulaziz, yesterday, secured bail from the Federal High Court sitting in Abuja.

Ruling on consolidated bail application that was moved by their lawyer,  Chief Kanu Agabi, SAN, yesterday, trial Justice Evoh Chukwu ordered the accused persons to pay the sum of N350million each.

The surety according to the court  must show a proof of ownership of landed property in Abuja, depose to an affidavit of means before the Deputy Chief Registrar of the High Court, as well as, show evidence of three years tax payment.They court further ordered them to produce two persons to stand as their sureties or in the alternative, provide one surety who must be a serving Director in any federal government establishment.

Besides, the accused persons were directed to surrender their international passport to the court alongside their two recent passport photographs.

Justice Chukwu subsequently fixed September 30, October 22 and 23 to commence their trial.

Specifically, Nyako and his son who is a serving Senator,  were accused of diverting over N40billion from the Adamawa State treasury between January 2011 and December 2014.

The duo were on Wednesday docked before the high court on a 37-count criminal charge bothering on money laundering, abuse of office and misappropriation of public funds.

They are facing trial alongside their alleged accomplices- Zulkifikk Abba and Abubakar Aliyu.

Five companies that allegedly served as conduit pipes for the illegal diversion of the funds-Blue Opal Limited, Sebore Farms & Extension Limited, Pagoda Fortunes Limited, Tower Assets Management Limited and Crust Energy Limited, were equally charged as the 5th to 9th accused persons.

The accused persons had shortly after they pleaded not  guilty to the charge, begged trial Justice Chukwu to release them on bail, a prayer that was declined, even as the court ordered their remand in EFCC custody.

Meantime,  at the resumed sitting yesterday, the EFCC vehemently opposed Nyako’s application for bail. Arguing a 20-paragraphed counter affidavit that was sworn to by one Adekunle Christopher Odofin,the prosecuting counsel, Mr. Rotimi Jacobs, SAN, relied on three exhibits (RG1- RG3), and insisted that the accused persons would jump bail if released.

The EFCC stressed that Nyako and his son went into hiding the last time it granted them administrative bail, saying they only returned to the country after May 29 when President Muhammadu Buhari assumed office.

“We submit that whether to admit the applicants to bail or not, is at the discretion of the court. In exercising that discretion, it is always guided by certain principles so that the exercise can be judicial and judicious. Some of those conditions are enumerated in section 162 of the Administration of Justice Act, 2015.

“Bail is not automatic and the accused persons have not placed sufficient materials before this court to warrant the exercise of discretion in their favour”, the EFCC lawyer contended.

 

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp