The Ilorin Zonal Command of the Economic and Financial Crimes Commission (EFCC), has arraigned the former Commissioner for Finance in Kwara State, Ademola Banu, before Justice Evelyn Anyadike of the Federal High Court sitting in Ilorin.
Banu faces charges of alleged money laundering and misappropriation of state funds amounting to N1.22 billion.
According to the accusations, Banu, along with others, purportedly conspired to divert the aforementioned sum during the tenure of Governor Abdulfatah Ahmed, spanning from May 2011 to May 2019, when he served as the Commissioner for Finance.
Initially scheduled for arraignment alongside his principal, former Governor Abdulfatah, on February 23, 2024, Banu failed to appear in court and lacked legal representation, prompting the issuance of a bench warrant against him.
At the resumed hearing on Monday, both defendants, Abdulfatah Ahmed and Ademola Banu, were present in court. Representing them were A. A. Ajibade, SAN for Abdulfatah, and Gboyega Oyewole, SAN for Banu, while the prosecution team was led by Rotimi Jacobs, SAN.
Rotimi Jacobs informed the court of Banu’s absence during the previous session and his subsequent appearance in court, stating, “Following the order of the court, counsel to the second defendant called me and explained that he would produce his client before the court today, which he has done. I pray the court to allow the charge to be read to him.”
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In response, Banu’s counsel, Oyewole, requested the discharge of the bench warrant issued against his client, a request that Jacobs did not oppose.
Justice Anyadike granted the request and proceeded with Banu’s arraignment.
The defendant pleaded “not guilty to the charges presented before him, including counts related to the conversion of state funds for the provision of security.”
Following Banu’s plea, Oyewole moved a motion for his client’s bail, citing medical reasons. Jacobs did not oppose the application, given the court’s earlier ruling.
Granting the bail application, Justice Anyadike admitted “Banu to bail in the sum of N20 million with two sureties in like sum, requiring them to possess landed property within the court’s jurisdiction.”
Additionally, the sureties must “deposit three passport photographs with the court’s registrar and provide evidence of payment of electricity bills for the last three months.”
Furthermore, the judge ordered Banu to pay a bond of N5 million into the litigation account of the Federal High Court, which would be returned upon the case’s conclusion or forfeited to the Federal Government if he violated bail conditions.
Justice Anyadike also directed “Banu to surrender his international passport to the court and prohibited him from travelling without the court’s permission, allowing exceptions for medical reasons upon application.”
Subsequently, Banu was “remanded in the custody of the EFCC pending the fulfilment of his bail conditions. However, the trial is scheduled to resume on June 25 and 26, 2024.”