The Economic and Financial Crimes Commission (EFCC) has arraigned a former Commissioner for Finance in Kwara State, Ademola Banu, before the Federal High Court in Ilorin for alleged money laundering and misappropriation of state funds to the tune of N1.22 billion.
Banu was accused of conspiring to divert the funds during the administration of Governor Abdulfatah Ahmed between May 2011 and May 2019. He was arraigned alongside the former governor, who had earlier taken his plea on February 23, 2024.
The court had issued a bench warrant against Banu due to his absence on the earlier date, but he was present in court on Monday, April 29, 2024, and pleaded not guilty to the charges.
Justice Evelyn Anyadike granted Banu bail in the sum of N20 million with two sureties in like sum and ordered him to deposit his international passport with the court. The case has been adjourned to June 25 and 26, 2024, for trial.
The EFCC alleged that Banu and the former governor conspired to convert the sum of N411 million, property of Kwara State Government, meant for the provision of security in the state, between January and December 2018.
The offence is contrary to section 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012, and punishable under Section 15(3) of the same Act.
Banu’s counsel, Gboyega Oyewole, SAN, moved a motion for his client’s bail, citing his medical conditions, and the court granted the application on liberal terms.
The EFCC was represented by Rotimi Jacobs, SAN, who did not oppose the bail application, considering the earlier ruling.
The court ordered Banu to be remanded in the custody of the EFCC pending the perfection of his bail conditions.
The case has been adjourned to June 25 and 26, 2024, for trial, and the EFCC has vowed to prosecute the case diligently to ensure justice is served.
