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A Federal High Court, Lagos, on Tuesday fixed July 19, to rule on a motion for bail of a chieftain of the PDP, Clement Faboyede standing trial over alleged N500 million money laundering.

Faboyede, the Ondo State chairman of PDP, was charged by the Economic and Financial Crimes Commission on June 29, alongside Modupe Adetokunbo, the Director-General of the party’s Campaign Organisation in the state during the 2015 general elections.

They were charged on a three-count offence, and had each pleaded not guilty to the charges.

Arguing their motion for bail on Tuesday, defence counsel, Eyitayo Jegede (SAN), said that the essence of bail was to secure the temporary release of the accused from detention, pending trial.

He also urged the court not to subject bail of the accused to any verification by the prosecution, but grant same on liberal terms.

In opposition to the bail application, EFCC’s lawyer, Ekene Iheanacho, urged the court to dismiss the motion.

He argued that the depositions in support of the motion were in violation of the law.

Iheanacho said: “The quality and quantity of evidence as shown in the proof of evidence positively linked the defendants to the alleged offence.

“Besides, the offences for which the defendants are standing trial are serious felonies and becoming rampant.

“The defendants were granted administrative bail during investigation so as not to breach their fundamental human rights but this was revoked prior to their arraignment.”

After listening to the submissions of parties, the vacation judge, Justice Hassan reserved ruling on the motion until July 19.

The accused were said to have committed the alleged offence on March 27, 2015.

They were said to have conspired to accept cash payment of the sum of N500 million, which exceeded the amount allowed by law, without going through a financial institution.

The offences contravene the provisions of Sections 16, 16(2) and 18 of the Money Laundering (prohibition) Act, 2011 (as amended by Act No.1 of 2012).

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