A Federal High Court sitting in Ilorin on Monday granted N200 million bail to former Kwara State Commissioner for Finance, Ademola Banu.
The Ilorin Zonal Office of the Economic and Financial Crimes Commission had on January 29 arraigned Banu and one Olarewaju Adeniyi before Justice Babangana Ashigar on a nine-count bordering on money laundering.
“Conversion of the sum of N411 million, the property of Kwara State Government which sum you reasonably ought to know was derived from fraud.” “The surety is to have a landed property in Ilorin and must submit the Certificate of Occupancy to the Registrar of this honourable court which should be verified by the EFCC,” the judge added.
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