Olisa Metuh Granted N250m Bail In Money Laundering Saga


Get real time updates directly on you device, subscribe now.

Olisa Metuh Granted N250m Bail In Money Laundering Saga
Olisa Metuh Granted N250m Bail In Money Laundering Saga

The Federal High Court sitting in Abuja has granted bail to a former National Publicity Secretary of the People’s Democratic Party (PDP), Olisa Metuh, in the sum of N250m.

Justice Nkeonye Maha gave the order in a ruling on Metuh’s bail application, on Thursday.

Metuh’s bail application was earlier filed on December 21, 2020 by his team of lawyers led by Dr. Onyechi Ikpeazu (SAN).

In February’s judgment, Justice Okon Abang of the Federal High Court in Abuja, had convicted Metuh and his firm, Destra Investments Limited, on money laundering charges.

The figure involved, N400m, was said to have been received fraudulently from the erstwhile National Security Adviser, Sambo Dasuki, in December 2014.

The two were also convicted for transacting with $2m cash, a transaction which breached money laundering laws as it did not go through any financial institution.

However, Metuh’s appeal to the Court of Appeal in Abuja, on December 16, 2020, saw his trial set aside and his conviction and subsequent sentence revoked.

The Court of Appeal held that Justice Abang was bias in his handling of the matter.

Read also: How Olisa Metuh’s pride sent him to prison – Judge Reveals

The three-man panel of the Court of Appeal ordered a retrial of the case by another Federal High Court  judge other than Justice Abang.

After his conviction was revoked, Metuh moved on to apply for bail successfuly.

Justice Maha ruled that Metuh must present a surety who must be a responsible citizens and owner of landed property with value not less than the bail sum within Abuja.

Maha assured that the moment his bail conditions were met, a release warrant will be issued to the Superintendent of Nigeria Correctional Service, Kuje.

“That registry of this court shall verify the property/properties with the address of the surety and depose to affidavit of same.

In the meantime, Metuh was released from Kuje custodial centre, Abuja, on Thursday.

Humphrey Chukwuedo, The spokesman, Federal Capital Territory Command of the Nigeria Correctional Service, confirmed the news

The Economic and Financial Crimes Commission (EFCC) said it will proceed to the Supreme Court to set aside the December 16 decision of the Abuja Division of the Court of Appeal, which revoked Metuh’s conviction.

Leave a Reply

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.