The Speaker of the Ogun State House of Assembly, Olankunle Oluomo, Tuesday, was granted bail by a Federal High Court sitting in Lagos State, in the sum of N300m with two sureties in like sum.     

All Fact Newspaper had earlier reported that the Speaker was arraigned over alleged N2.5bn money laundering.

The counsel to the speaker had requested, Justice Daniel Osiagor who presided over the case to admit his client to bail on liberal terms.

Adhering, Justice Osiagor held that one of his sureties must be not be less than a 16 level officer in the Civil Service while the other must possess landed property within the court’s jurisdiction.

All defendants are also to deposit their travel documents with the registrar of the court.

The counsel for the Economic and Financial Crimes Commission, Rotimi Oyedepo who had no objection to it told the court that he would leave the issue of bail solely within the discretion of the court.

The court granted the second and third defendant bail in the sum of N100m with two sureties also in like sum.

All the sureties are to possess three-year tax clearance and swear to an affidavit of means.

Pending when they meet their bail conditions, the defendants will be remanded in the custody of the EFCC for a week after which they will be transferred to the Abeokuta Division of the court for further orders on their remand.