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Money Laundering: Court grants Atiku’s son-in-law N20m bail
THE Federal High Court has granted bail to Abdullahi Babalele, the son-in-law to Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP) and former Vice-president of Nigeria.
Babalele was granted bail in the sum of N20 million with one surety in like sum on Thursday.
The Economic and Financial Crimes Commission (EFCC) arraigned him on two-count charges bordering on money laundering of $140,000 (more than N50m) during the 2019 general elections.
The anti-graft agency alleged that he aided the cash payment of the sum of $140,000 in February 2019 without going through a financial institution.
Besides Babalele, a former associate of Atiku, Uyiekpen Giwa-Osagie who is also a lawyer was sued on a similar case. He was alleged of laundering a sum of $2million in the build-up to the general elections.
Both had pleaded not guilty to the charges before Justice Nicholas Oweibo at the high court.
Speaking on the bail conditions at the hearing on Thursday, the judge ruled that Babalele should provide N20 million with one surety in like sum. He added that the surety must be a resident of Lagos with evidence of means through an affidavit.
The court also directed him to deposit his passport, which had been with the Economic and Financial Crimes Commission (EFCC), with the court.
Also, Giwa-Osagie was directed to provide N20 million naira with one surety as his bail condition.
The two defendants were ordered to remain in the custody of the EFCC pending the fulfillment of the bail terms.
The trial of both cases was adjourned to October 8.