The Economic and Financial Crimes Commission (EFCC) has
arraigned Olasupo Shasore, former Lagos state attorney-general, over
allegations of money laundering.
He was arraigned on a four-count charge before Chukwujekwu
Aneke, judge of a federal high court in Lagos.
The former AG was alleged to have committed money laundering
to the tune of $100,000 without going through a financial institution.
He, however, pleaded not guilty to the charge.
After his plea, Bala Sanga, prosecution counsel, prayed the
court to order a remand of the defendant in custody pending trial.
However, Shasore’s counsel, Yemi Candide-Johnson, who
appeared with three other senior advocates of Nigeria, prayed the court to
grant the defendant bail on self-recognisance.
Candide-Johnson averred that the defendant showed up for
arraignment without being reminded, coerced, or forced.
Additionally, he told the court that the defendant had
always made himself and any documents sought from him available to the anti-graft
agency whenever necessary.
Additionally, the defence attorney stated that the case had
been under investigation for three years and that the defendant does not pose a
flight risk.
After the defence counsel’s submissions, the prosecutor did
not oppose the application for bail.
In his ruling, the judge granted the defendant’s bail
application.
“There is no doubt that the court must strike a balance
based on the evidence before it, between the constitutional rights of the
defendant to liberty and presumption of innocence and the rights of the state
to prosecute its erring citizens,” the judge held.
“The defendant’s application for bail succeeds and the bail is accordingly granted in the
following terms:
“Defendant applicant is admitted to bail in the sum of N50
million with one surety in like sum.
“The surety must be a serving director or a permanent
secretary in the service of the federation or the Lagos state government.
“Surety to produce
two copies each of his or her recent passport photograph and evidence of
payment of tax or tax clearance.
“The defendant’s international passport with the complainant
shall be deposited with the registrar of this court pending trial.
“This is the ruling
of the honourable court.”
The judge adjourned the case until November 24 for trial.
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