The accused is being arraigned for involvement in multiple scams. The Economic and Financial Crimes Commission, EFCC, has described the plea bargain terms of Seun Ogunbambo, who is facing prosecution for multiple cases of fraud, as “laughable.”
Mr. Ogunbambo is allegedly involved in a series of fuel subsidy frauds as well as a bank scam running into several billions of naira.
The counsel to the EFCC, Francis Usani, told an Ikeja High Court, on Monday, that out of the more than N4 billion involved in all the scams, Mr. Ogunbambo, in his plea bargain, agreed to pay N100 million upfront.
The suspect also agreed to spread the balance of the remaining sum, paying N50 million every three months, EFCC says.
“The proposal is laughable,” Mr. Usani insisted.
‘He deserves bail’
In his bail application on Monday, Adebayo Adenipekun, Mr. Ogunbambo’s counsel, argued that his client deserves bail just as his co-accused.
Mr. Ogunbambo; Mamman Ali, son of former chairman of Peoples’ Democratic Party; Christian Taylor; and Nasaman Oil Services are facing a 14-count charge of subsidy fraud.
Messrs Ali and Taylor had been granted bail by Adeniyi Onigbanjo, the trial judge.
“The only issue that is relevant from all the processes is whether the applicant will attend trial. I’m aware that the others are out on bail,” Mr. Adenipekun, a Senior Advocate of Nigeria, said.
Mr. Adenipekun stated that since his client was granted bail – by a different judge – on August 22, he had been appearing before the court.
– Premium Times