N1.9bn fraud: Court grants Oronsaye bail on self recognition


A Federal High Court in Abuja on Monday granted bail on self-recognition to Stephen Oronsaye, a former Head of Civil Service of the Federation standing trial for a N1.9 billion money laundering.
Oronsaye was arraigned on a 24-count charge on July 13 with one Osarenkhoe Afe by the Economic and Financial Crimes Commission (EFCC) over the alleged crime.
The trial judge, Justice Gabriel Kolawole, had released Oronsaye to go home on personal recognition but ordered him to return to court on July 21 for hearing on his bail application.
Delivering ruling on the bail application, the judge granted the application as prayed by his counsel, Kanu Agabi (SAN).
“The first accused motion on notice filed on July 13 by learned counsel, Chief Kanu Agabi (SAN), his lawyer is hereby, granted as prayed. He is therefore granted bail on self-recognition,” Kolawole ordered.
He, however, granted bail to Oronsaye’s co-accused, Osarenkhoe Afe, in the sum of N50 million with two sureties, one of whom must not be less than a Grade Level 16 officer in either federal or state government establishments.
Afe is the Managing Director of Fredrick Hamilton Global Services Limited, a company named as the third accused in the 24 counts preferred against them.
The judge also ruled that one of Afe’s sureties must have property worth N75 million within Abuja and produce evidence of tax clearance over the last three years.
He ordered that both Oronsaye and Afe must deposit their passports and other travel documents with the court registrar.
The judge also ordered that in the event that Afe was unable to meet the bail conditions by midnight on Wednesday, he should be re-arrested and remanded in Kuje prison in Abuja.
The accused persons had both pleaded not guilty to all the charges preferred against them by EFCC.
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Source:: New Mail