EFCC arraigns Ogun Speaker, others for alleged N2.5bn fraud. Olakunle Oluomo, the Speaker of the Ogun State House of Assembly, was charged by the Economic and Financial Crimes Commission (EFCC) on Tuesday with misappropriating N2.5 billion that belonged to the Assembly.
The Speaker was joined in his arrest by the Clerk of the House, Taiwo Adeyemo, and the Director of Finance, Oladayo Samuel.
Before Justice Daniel Osiagor of the Federal High Court in Lagos, they were charged.
The EFCC has charged Oluomo and others with faking signatures and receipts in order to siphon enormous sums of money totaling billions of Naira.
To the 11-count accusation brought against them, they have entered a not guilty plea.
The Speaker and others have been granted bail in the meantime by the court.
The first defendant, Oluomo, was given bail in the amount of N300 million with two sureties in the same amount.
The court ruled that one of the sureties had to be a Level-16 employee of the Federal Civil Service.
The bond for the remaining defendants was set at N100 million apiece, with two sureties each in the same amount, at least one of whom had to be a Level-14 civil service officer.
The court ruled that each surety had to be a landowner within the court’s jurisdiction, show three years of tax-free status, and swear to an affidavit of means.
The court registry has requested Oluomo and other accused to present their travel documentation.