A Federal High Court in Abuja on Monday, ordered the remand of Olugbenga Obadina, Chairman and Chief Executive Officer (CEO), Almond Projects Limited, in Kuje Correctional Centre over alleged N2.17 billion fraud.
Justice James Omotosho gave the order after Obadina was re-arraigned by the Economic and Financial Crimes Commission (EFCC) on eight-count charge bordering on money laundering.
The News Agency of Nigeria (NAN) reports that retired Col. Sambo Dasuki, a former National Security Adviser (NSA).during the President Goodluck Jonathan government, was accused of criminal diversion of funds to the tune of 2.1 billion U.S. dollars.
The money was allegedly part of funds earmarked by the Federal Government to fight Boko Haram insurgency in the northeast.
NAN reports that the EFCC had, in the charge marked: FHC/ABJ/CR/142/2016, listed Obadina and Almond Project Limited as 1st and 2nd defendants.
Upon resumed hearing on Monday, EFCC’s lawyer, Ibrahim Buba, told the court that the matter was fixed for arraignment of Obadina and his company and he was ready to proceed.
Counsel for Obadina, Saheed Sanusi, SAN, and the company’s lawyer, Adeola Adedipe, SAN, did not oppose Buba’s application.
After the eight counts were read to the defendants, they pleaded not guilty to the charge.
The anti-graft agency’s lawyer then sought a trial date and prayed the court to remand Obadina In a correctional centre until the next adjourned date.
But Sanusi, who told the court that he was just being briefed about the matter, said from record, Obadina is already on bail.
He said the bail was granted on July 18, 2016, when the matter was before Justice Nnamdi.Dimgba of a sister court before his elevation to the Appeal Court.
The lawyer said the defendant should be deemed innocent until proven guilty.
He said though bail is at the discretion of the court, Sanusi prayed the court to allow his client to continue to enjoy the bail on the terms granted earlier.
“We promise to always be in court at all the date slated for hearing,” he said.
Justice Omotosho observed that the bail was granted about nine years ago in the sum of N500 million with two sureties in like sum who must be businessmen.
The judge, however, said he would need to verify the record and likely add more conditions to the bail terms.
He expressed concern that when the matter was called earlier in the morning, Obadina’s whereabouts was unknown and the court had to stand down the matter before it finally reconvened.
“Base on what I saw this morning, I have to be careful in making that order,” he said.
When the judge asked if the sureties were in court, only one of them stood up for identification.
The surety, who identified herself as Ruth Jumai Ango, said she had earlier filed an application to withdraw as a surety.
“And that is why I am here this morning my lord,” she said.
When the judge asked Obadina if he was aware that the surety had applied to withdraw her suretyship, he responded in the negative.
Sanusi, who appeared for Obadina, said he saw the surety for the first time before the matter was called in the morning.
The lawyer acknowledged that a surety has the right to withdraw his service at any time if he or she is so wish.
Adedipe, who represented the company, told the court that he wished to volunteer his intervention.
The senior lawyer said the court might decide not to go by the existing bail condition because bail is at the discretion of the court.
He, however, urged the court to take note that the case was a transferred matter.
Adedipe, who assured that Obadina would not jump bail, said the defendant knows that after taking plea, if he absconds, the trial will continue in his absence.
But Justice Omotosho said he could order Obadina’s release if any of the lawyers was ready to undertake to pay N500 million recognisance should he escaped.
When the judge asked Obadina the whereabouts of the second surety, he said he is in Enugu.
The judge then granted leave to Ango’s lawyer, Deborah Bassey, to move a motion to withdraw as surety and it was granted after it was not opposed by Sanusi.
Justice Omotosho, who ordered Obadina to continue with the bail earlier granted, however, ordered the two sureties and the defendant to submit their bank statements.
He said the bank statements must be verified by the court registrar.
The judge, who ordered Obadina to be remanded in Kuje Correctional Centre, adjourned the matter until Feb 18, Feb. 20 and Feb. 21 for trial.
In court three of the charge, Obadina and Almond Projects Ltd were alleged to have, on April 3, 2014 directly took possession or control of the sum of N 648,000,000.00 (Six Hundred and Forty Eight Million Naira) paid into the account of Almond Projects Ltd with Zenith Bank Plc Account No: 1010921116.
The money was allegedly tonnage been paid from the account of the Office of the National Security Adviser with the Central Bank of Nigeria without contract award.
The agency said the fund formed part of the proceeds of an unlawful activity of Col. Dasuki (rtd) and the offence is contrary to Section 15(2), (d) of the Money Laundering (Prohibition) Act, 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.
NAN recalls that Justice Dingbat had, on July 4, 2024, adjourned for adoption of final written addresses after the EFCC had closed its case with four witnesses and the defendants called two witnesses before he was elevated to the Appeal Court.
