The High Court of the Federal Capital Territory (FCT), sitting at Apo, on Monday, granted bail to the detained former Chairman of the Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni, to the tune of N200 million.
The court, in the ruling that was delivered by Justice Jude Onwuzuruike, also ordered the defendant who was remanded in prison custody on May 4, to produce two sureties in like sum.
It stressed that the two sureties who must be federal civil servant, must submit their national identity cards and their letters of employment, adding that they must own landed property that is worth N500m.
More so, the court held that one of the sureties must write an undertaking of a bank guarantee to the tune of N15billion.
The court held that the defendant should remain in prison custody pending the fulfilment of the bail conditions.
However, it directed officials of the correctional centre to grant the defendant access to his lawyers.
Justice Onwuzuruike dismissed objections the Economic and Financial Crimes Commission (EFCC) raised to challenge the defendant’s request for bail.
He held that the essence of bail was to compel the defendant who enjoys the statutory presumption of innocence, to attend his trial.
Ayeni had upon his arraignment, pleaded not guilty to a 17-count charge the anti-graft agency entered against him.
The charge against the defendant borders on criminal breach of trust, misappropriation, and conversion of investors’ funds to the tune of N15,665,085,429 (Fifteen Billion, Six Hundred and Sixty-Five Million, Eighty-Five Thousand, Four Hundred and Twenty-Nine Naira).
