Alleged N109. 5bn fraud: Court to rule in suspended AGF, others bail Thursday

An FCT High Court  will on Thursday rule in the bail applications filed by the suspended Accountant-General of the Federation, Ahmed Idris, and three others over alleged N109.5 billion fraud.

Other defendants are Olusegun Akindele, Mohammed Usman and Gezawa Commodity Market and Exchange Limited.

The Economic and Financial Crimes Commission (EFCC) on July 22 arraigned Idris, Akindele, Usman and Gezawa limited on 14-count charge bordering on misappropriation of N109.5 billion.

Justice O. Adeyemi Ajayi fixed the date on Wednesday after listening to the submissions of all counsel in the matter on the bail applications.

She adjourned ruling in the bail applications until Thursday.

In addition, she ordered that the defendants should be remanded in Kuje correctional centre pending ruling.

Earlier, Counsel to Idris, Chris Uche, SAN, urged the court to grant his client bail on liberal terms.

He submitted that the offence his client was charged with, is bailable and not a capital offence.

Other defendants’ counsel, Mr P.B Abalaka, for the third defendant and Mohammed Ndayako, SAN for the fourth defendant aligned with Uche.

The EFCC Counsel, Rotimi Jacobs, SAN, while opposing the bail, reminded the court that misappropriation of public funds by public officers is likened to genocide, a crime against humanity.

He said bail is regulated by the court under Administration of Criminal Justice Act ( ACJA) and that the court should take a judicial notice of that.

He added that though the offence is not capital, but it is weighty.

EFCC alleged that between February and December, 2021 Idris accepted from Olusegun Akindele, a gratification of N15,136,221,921.46.

It alleged that the sum was a motive for accelerating the payment of 13% derivation to the nine oil producing Sates in the Federation, through the office of the AGF.

It also alleged that N84,390,000,00 from the federal government’s account was converted by the first and second defendants between February and November 2021.

EFCC said the offence contravenes the provisions of sections 155 and 315 of the Penal Code Act Cap 532 Laws of the Federation of Nigeria 1990.

The defendants pleaded not guilty to the allegations against them.