The Federal High Court in Abuja on Monday, ordered the remand of Olugbenga Obadina, Chairman and Chief Executive Officer (CEO), Almond Projects Limited, in Kuje Correctional Centre over alleged N2.17 billion fraud.
The judge, James Omotosho, gave the order after Mr Obadina was re-arraigned by the Economic and Financial Crimes Commission (EFCC) on eight counts of money laundering.
It was reported that Sambo Dasuki, a former National Security Adviser (NSA). during the President Goodluck Jonathan government, was accused of criminal diversion of funds to the tune of $2.1billion.
The money was allegedly part of funds earmarked by the federal government to fight Boko Haram insurgency in the northeast.
EFCC had, in the charge marked: FHC/ABJ/CR/142/2016, listed Mr Obadina and Almond Project Limited as 1st and 2nd defendants.
Upon resumed hearing on Monday, EFCC’s lawyer, Ibrahim Buba, told the court that the matter was fixed for arraignment of Mr Obadina and his company and he was ready to proceed.
Mr Obadina’s lawyer, Saheed Sanusi, a Senior Advocate of Nigeria, and the company’s lawyer, Adeola Adedipe, also a SAN, did not oppose Mr Buba’s application.
The defendants pleaded not guilty to all eight counts read to them in court on Monday.
The anti-graft agency’s lawyer then sought a trial date and prayed the court to remand Mr Obadina in a correctional centre until the next adjourned date
But Mr Sanusi, who told the court that he was just being briefed about the matter, said from record, Mr Obadina is already on bail.
He said the bail was granted on 18 July 2016, when the matter was before another judge of the court, Nnamdi.Dimgba now a Justice of Court of Appeal) before his elevation to the appeal court.
The lawyer said the defendant should be deemed innocent until proven guilty.
He said though bail is at the discretion of the court, Mr Sanusi prayed the court to allow his client to continue to enjoy the bail on the terms granted earlier.
“We promise to always be in court at all the date slated for hearing,” he said.
Mr Omotosho observed that the bail was granted about nine years ago in the sum of N500 million with two sureties in like sum who must be businessmen.
The judge, however, said he would need to verify the record and likely add more conditions to the bail terms.
He expressed concern that when the matter was called earlier in the morning, Mr Obadina’s whereabouts was unknown and the court had to stand down the matter before it finally reconvened
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