The Economic and Financial Crimes Commission (EFCC) has arraigned a former Chief of Air staff, Air Marshal Adesola Amosu (Rtd) and 10 others before a Federal High Court sitting in Lagos.
The former Chief of Air Staff was arraigned alongside Air Vice Marshal Jacob Adigun, Air Commodore Gbadebo Olugbenga and 7 companies.
The Companies are Delfina Oil and Gas Ltd, Mcallan Oil And Gas Ltd, Hebron Housing and Properties Company Ltd, Trapezites BDC, Fonds and Pricey Ltd, Deegee Oil and Gas Ltd, Timsegg Investment Ltd and Solomon Health Care Ltd.
The EFCC formally accused them of converting about N22.8bn from the Nigeria Air Force around March 5, 2014 in Lagos.
They were also accused of concealing “proceeds of crime” and thereby committed an offence contrary to Section 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 17(a).
The defendants allegedly used the companies to convert and conceal the money.
When the 26 count charge was read to them, they all pleaded not guilty and their lawyers made a case for them to be admitted to bail either on self-recognizance or in the most liberal terms.
The EFCC Counsel, Rotimi Oyedepo, had no objections to the court granting them bail but he urged the court to impose conditions that will secure their attendance in court for their trial.
After listening to their submissions, Justice Mohammed Idris, granted the defendants bail in the sum of N500m each with two sureties in like sum.
The sureties shall be landed property owners within the jurisdiction of the court.
The documents of the properties must be deposited in court and verifiable by the registrar. The court also asked the defendants to deposit their international passport with the registrar of the court.
Before the bail conditions are met however, the first and third defendants are to be remanded in prison while the second defendant, who had written a letter to the EFCC on his poor state of health, will be remanded in the Commission’s custody.
Further proceedings were then fixed for July 8.