Former Minister of Power and Steel, Olu Agunloye, was granted bail in the amount of N50 million by Justice Jude Onwuegbuzie of the Federal Capital Territory (FCT) High Court in Apo on Thursday, January 11.
Agunloye was charged on Wednesday with seven felonies related to contract fraud and government misconduct.
His confinement at Kuje Correctional Center was mandated by the judge awaiting a hearing and decision about his bail application.
The former minister’s attorney, Adeola Adedipe, moved the motion and prayed the court to grant bail to his client by way of self-recognisance or in liberal terms.
According to him, Argunloye was not a flight risk, and the prosecution’s idea was “born out of misconception and communication barrier.”
Adedipe further argued against the court’s decision to compel his client to use a public official as a guarantor.
Under this provision, Adeola said, “Once a defendant is admitted to bail, even if he absconds, the trial will continue and he will be convicted where necessary.
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