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N2 BILLION OR JAIL, JUDGE TELLS LAGOS SPEAKER, AIDE

Speaker, Lagos House of Assembly, Rt. Hon. Adeyemi Ikoforiji
Speaker, Lagos House of Assembly, Rt. Hon. Adeyemi Ikoforiji

Speaker of the Lagos State House of Assembly, Rt. Hon. Adeyemi Ikuforiji and his Personal Assistant, Oyebode Alade Atoyebi have less than 48 hours to provide N2 billion as bail bond or be arrested and detained pending when they will be produced in court for trial in September.

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That was the shocker, the Speaker who has presided over the hallowed chambers despite allegations of corruption got on Monday when his case came up for hearing before Justice Ibrahim Buba of the Federal High Court in Lagos. Ikuforiji and his aide were re-arraigned Monday on a 54-count criminal charge bordering on money laundering brought against them by the Economic and Financial Crimes Commission (EFCC).

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They were granted bail in the sum of N1bn each and the case was adjourned till September 25, 2013 for commencement of trial. Part of the charges levelled against the speaker and Atoyebi include transacting business to the tune of N518m between 2010 and 2011 without going through any financial institution thus committing an offence contrary to Money Laundering Act.

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The judge was quite specific in his ruling stressing that the duo would have to provide the money within 48 hours or be remanded in prison upon issuance of a bench warrant.

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