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The Federal High Court sitting in Abuja has granted bail in the sum of N500 million to an aide of Governor Ayo Fayose of Ekiti State, Abiodun Agbele, who is standing trial for an alleged N4.6 billion money laundering charge.
In his ruling, Justice Nnamdi Dimgba held that the prosecution failed to show reasonable cause why the defendant should not be granted bail.
The trial judge stated that he was not convinced that the prosecution made sufficient case to deny him reprieve and rejected the claim led by Johnson Ojogbane that the defendant would jump bail.
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Justice Dimgba held that an accused is presumed innocent until proven otherwise, adding that the purpose of bail was to provide an accused with the best atmosphere to prepare for his trial.
The court ruled that Agbele must produce two sureties in the sum of N250 million each with a proof of property ownership either in Abuja or Lagos.
