A former Minister of power, Dr Olu Agunloye has been granted N50million bail by a federal high court sitting in Abuja.
Agunloye is regaining his freedom after spending one night at Kuje prison where he was remanded by the court.
However, Justice Jude Onwuegbuzie admitted Agunloye, to bail on Thursday after meeting the conditions stipulated by the court in its ruling of Wednesday, January 10, 2024.
Agunloye was arraigned before the court on Wednesday by the EFCC on a seven-count charge bordering on forgery, disobedience of a presidential order, and gratification.
However, the former minister, pleaded not guilty to the charges.
Justice Onwuegbuzie while ruling on the bail application on Thursday granted the defendant bail in the sum of N50million with two sureties in the like sum.
The charges emanated from a $6billion Mambilla Hydropower Electric Power project contract.
The judge ordered that the sureties must be individuals of means and repute, possessing landed property valued at N300 million in federal capital territory.
The sureties are also to deposit photocopies of their property documents, as well as their passports, with the court.
Justice Onwuegbuzie specified that the sureties must be residents of the Federal Capital Territory (FCT), and their residences would be verified by the court registrar.
Furthermore, the judge directed that Agunloye must surrender his passport to the court and is prohibited from traveling abroad without the court’s permission. (vitalnewsngr.com)
