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Published On: Thu, Aug 22nd, 2019

Alleged N22.9bn fraud: Oshodin secures N250m bail

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By Vivian Okejeme Abuja

Justice Taiwo Taiwo of the Federal High Court Abuja, has admitted a US-based businesswoman, Mrs Isabella Mimie Oshodin, to bail in the sum of N250m and two sureties in likes sum.
Justice Taiwo ordered that one of the sureties must be residence of Abuja as well a one should own a house worth N500m within Asokoro or Maitama area of the Federal Capital Territory.
As part of the bail condition, the court directed Mrs Oshodin to deposit her trial Nigerian passport to the Chief Registrar of the Federal High Court, adding the she must not travel out of the country without the court’s permission.
Ruling on the defendant’s bail application which was argued by her lawyer Osahon Idemudia, Justice Taiwo ordered Oshodin to report once in a month at the office of the EFCC pending the determination and conclusion of trial.
The court further directed that the address of the sureties should be verified by the court authority just as they were mandated to submit their recent passport photographs to the court registrar.
More so, Justice Taiwo ordered that the defendant be kept in the custody of the EFCC pending when she fulfills the bail condition.
Meanwhile, the court has adjourned to October 15 for commencement of trial.
Mrs Oshodin was arraigned in court on Monday, by the Economic and Financial Crimes Commission over allegation of money laundering amounting to N22.9bn.
She was docked after being held in the custody of the EFCC for almost 70 days.
Oshodin was arraigned on a 25-count charge over her family’s sale of a furniture manufacturing company to the Federal government to the tune of $55m United States Dollars.
Her husband, Bob Oshodin was said to be at large.
Amongst other counts, the EFCC claimed that the defendants had sold the company to the Federal Government in 2014 and received the alleged sum through the office of Col. Sambo Dasuki (Rtd), the then National Security Adviser.
The Federal Government agency stated in the charge that the defendant had received the said amount in about 15 tranches through her family company, Bob Oshodin Organization Limited, which is the 1st defendant in the charge.

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