Olakunle Oluomo, speaker of the Ogun State House of Assembly, has been granted bail by Justice Daniel Osiagor of the Federal High Court in Lagos. Oladayo Samuel, the director of finance for the house, and Taiwo Adeyemo, the house clerk, are also defendants in the 2.475 billion naira money laundering and forgery case.
On Tuesday, they had entered a not guilty plea to the 11-count allegation.
The first defendant, Mr. Oluomo, was given a 300 million bail with two sureties, one of whom had to be a federal civil official at least at level 16.
Second and third defendants each face a $100 million fine and two sureties, at least one of whom must be a level 14 civil servant.
The Title documents must be deposited with the court's registrar, and all sureties must own landed properties within the court's jurisdiction.
The sureties must also sign an affidavit of means and have 3-year tax clearance certificates.
The court registry must also get copies of all defendants' travel documents.
The defendants must complete all of their bail requirements by that time or else they would be moved to the Nigerian federal high court in Lagos, according to the court's additional ruling, which stipulated that they be kept at the EFCC custody for a maximum of one week. Along with Taiwo Adeyemo, the clerk of the House of Assembly, and one Oladayo Samuel, he is accused on 11 counts.
Separate legal counsel for the three defendants was provided by Kehinde Ogunwumiju (SAN), Akinyemi Aremu, and Oluwole Aladedoye.
Rotimi Oyedepo is the attorney for the economic and financial crimes commission, which is bringing the case.
They are charged with allegedly laundering more than 2.465 billion naira in ogun state monies.
Adeyanju Nimota Amoke, a fourth defendant, is rumoured to be on the run.
They were all alleged to have planned to steal more than 2 billion, 400 million, and 75 million naira from the Ogun State House of Assembly's treasury sometime in 2019 in the state capital of Abeokuta.
Sections 18 (a) and 15 (2) (d) of the Money Laundering Prohibition Act, 2011, as amended, are allegedly violated by the claimed offence, which is also punished under section 15 (3) of the same Act.