Justice Jude Onwuegbuzie of the High Court of the Federal Capital Territory, sitting in Apo, Abuja, admitted former Minister of Power and Steel, Mr Olu Aguloye, to bail on Thursday.
Aguloye was arraigned before the court yesterday by the Economic and Financial Crimes Commission (EFCC) on behalf of the Federal Government, facing a seven-count charge related to forgery, disobedience of a presidential order, and gratification.
However, the former minister pleaded not guilty to the charges brought against him.
In today’s ruling on Aguloye’s bail application, Justice Onwuegbuzie granted the defendant bail in the sum of N50 million with two sureties in a like amount.
The judge ordered that the sureties must be individuals of means and repute, possessing landed property valued at N300 million. They are required to deposit photocopies of the 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 Aguloye must surrender his passport to the court and is prohibited from traveling abroad without the court’s permission.
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