A High Court of the Federal Capital Territory sitting at Apo Wednesday granted bail to two former management staffers of the defunct Skye Bank Plc, who are facing money laundering charges in the sum of N500 million each.
The duo are Mr. Tunde Ayeni, chairman and Mr. Timothy Ajani Oguntayo, the Managing Director of the bank who are answering a four-count charge the Economic and Financial Crimes Commission, EFCC, preferred against them over their alleged complicity in a N456.6 billion fraud.
Justice Valentine Ashi granted the former bank chiefs bail after they pleaded not guilty to the charge.
Aside from the N1billion bail sum, the court ordered the defendants to produce two sureties in like sum, adding that the sureties must be residents or owners of landed properties in Abuja.
The defendants had through their lawyers, Mr.Ahmed Raji, SAN and Mr. E.O Akoni, SAN, respectively, prayed the court to release them on bail, pending the determination of allegations against them.
Meanwhile, Justice Ashi ordered that the defendants be released to their lawyers, pending when they perfect the bail conditions.
The case was subsequently adjourned to May 14 for trial.
EFCC had in the charge, alleged that the defendants perpetuated the fraud between January 1, 2014, and December 31, 2016.
The commission told the court that the defendants, being bankers entrusted with depositors funds, conspired and criminally breached the trust.
The prosecution alleged that in 2014, while being bankers entrusted with property and depositors funds in the defunct Skye Bank plc suspense account, committed criminal breach of trust to the aggregate sum of N456.6 bn.
It maintained that the duo had by their action, contravened the provisions of section 96, 97 and 315 of the Penal Code Law.
It will be recalled that the EFCC had earlier arraigned the defendants on an 8-count money laundering charge before the Abuja Division of the Federal High Court
The anti-graft had in that charge, also alleged that the duo had between 2014 and 2015, conspired and withdrew the sum of N4.75 billion and $500 million belonging to the bank, contrary to the provisions of Section 1(a) of Money Laundering (Prohibition) Act 2011 as amended
It told the court that the 1st defendant, Ayeni, on January 23, 2014, in Abuja, received cash payment in the sum of N1billion from staff of the bank, as well as another $500 million in September same year, contrary to the provisions of section 1(0) of the Money Laundering (Prohibition) Act 2011 (as Amended) and punishable under section 16(1)(d) of the Money Laundering (Prohibition).
The defendants also pleaded not guilty to the charge marked FHC/ABJ/CR/224/2018, even as they were granted bail by trial Justice Nnamdi Dimgba, to the tune of N50 million each with two sureties in like sum.
