Lagos State Speaker Faces Prison, Bail Set At Whopping N1 billion

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The Speaker of the Lagos State Assembly, Adeyemi Ikuforiji, and his Personal Assistant, Oyebode Alade Atoyebi have been re-arraigned on a 54 count charge involving money laundering allegations.

The charge borders on financial transactions committed by the two accused running into N518 million without the use of financial institutions and in violation of the Money Laundering Act.

They both pleaded not guilty to an amended 54-count charge and have been granted bail in the sum of N 1billion each. The court also made a bail condition for two sureties each in the sum of N 5million each.

The sureties are to swear to an affidavit of means, while the two accused persons must give an undertaking that they would always be present in court for their trial.

“They would not be remanded in prison custody if they are able to perfect the bail conditions within 48 hours. But if they fail, a bench warrant will be issued against them” the Judge ruled.

However, failure to meet the bail conditions could see the Speaker and his aide cooling their heels in the jail yard.

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