The Economic and Financial Crimes Commission (EFCC), on Thursday, arraigned a former Attorney General of Lagos State, Olasupo Shashore, before a Federal High Court in Lagos, on a four-count charge of money laundering.
Shasore served as the Attorney-General of Lagos State and the Commissioner for Justice during the tenure of Mr Babatunde Fashola as governor.
He was arraigned before Justice Chukwujekwu Aneke on a four-count charge bordering on money laundering.
The anti-graft agency had on August 12, 2022, slammed four counts of alleged money laundering on Shasore.
In the charge, Shasore was alleged to have induced one Olufolakemi Adetore, in accepting cash payment in the sum of USD100,000.00, without going through a financial institution.
He was alleged to have also made a cash payment of USD100,000.00 USD to Olufolakemi Adelore through Auwalu Habu and Wole Aboderin.
Besides, the charge states that the former Lagos State Attorney-General made a cash payment of USD100,000.00 to one Ikechukwu Oguine without going through a financial institution.
The offences were said to have been allegedly committed by Shasore on or about November 18, 2014.
According to the charge, the offences contravened Sections 78(c); 1(a) and 16(1)(d) and 18(c) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Sections 16(6) and 16 (2)(b) of the same Act.
Responding to the changes on Thursday, Shasore pleaded not guilty to all counts.
After his plea, the prosecutor, Bala Sanga, urged the court to order a remand of the defendant in custody pending trial.
However, the defence counsel, C. A Candide-Johnson (SAN), who appeared with Messrs Muiz Banire (SAN), Adesegun Adebola (SAN) and Chijioke Okoli (SAN), prayed the court to allow the defendant bail on his self-recognisance.
The defence counsel argued that the defendant personally walked into the court for his arraignment this morning without any reminder, compulsion, or force.
He also informed the court that the defendant had cooperated with the anti-graft agency whenever required, as he had always made himself, as well as documents requested from him available whenever required.
Besides, the defence counsel added that an investigation of the matter had been on for the past three years, adding that the defendant is not a flight risk
He urged the court to exercise its discretion in favour of the defence.
The prosecutor on his part said that he was not opposed to bail, but added that the concern of the prosecution is only for the defendant to be available to stand trial as lawfully required.
Following the submissions by counsel, the court stood down the matter for a while, so as to deliver a ruling on the bail application
In his ruling, the court held: “There is no doubt that the court must strike a balance based on the evidence before it, between the constitutional rights of the defendant to liberty and presumption of innocence and the rights of the state to prosecute its erring citizens.
“Hence, the overriding need by the court to ensure that the complainant/respondent is not incapacitated in the discharge of its function by not releasing the defendant on bail.”
The court ruled that exercising its discretion in granting bail in favour of the applicant, would better serve the course of justice, as an accused is presumed innocent until guilt is proven.
“The defendant’s application for bail succeeds and the bail is accordingly granted in the following terms:
“Defendant applicant is admitted to bail in the sum of N50 million with one surety in like sum.
“The surety must be a serving director or a permanent secretary in the service of the federation or the Lagos State government.
“Surety to produce two copies each of his or her recent passport photograph and evidence of payment of tax or tax clearance.
“The defendant’s international passport with the complainant shall be deposited with the registrar of this court pending trial; This is the ruling of the honourable court,” the court ruled.
Meanwhile, the court did not make any remand orders on the defendant who was already on bail. It, however, released him to his lawyers pending the perfection of his bail.
The judge adjourned the case to November 24 for trial.