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Thursday, June 16, 2011

N40bn loan: Bankole, Nafada fight for bail

The former Speaker of the House of Representatives, Mr. Dimeji Bankole, and his Deputy, Usman Nafada, on Wednesday asked Justice Suleiman Belgore of an Abuja High Court to grant them bail.
They are facing trial by the Economic and Financial Crimes Commission for illegally obtaining a loan of about N40bn.
The embattled ex-legislators in separate applications filed by their lawyer, Chief Adegboyega Awomolo (SAN), said the offences with which they were charged, were bailable.
They further claimed that they remained innocent until their guilt had been proved.
In his application, Nafada said he was in a precarious health condition because he was involved in a fatal auto-accident on Saturday along Bauchi-Kano road specifically at Gwarzo town.
He explained that the accident claimed the lives of seven people, adding that he needed time and opportunity to liaise with his lawyer and prepare his defence to the charges.
Nafada said he had never been tried for a criminal offence, promising that he would not jump bail if admitted to bail.
Bankole, who had earlier been granted bail by Justice Donatus Okorowo of a Federal High Court in Abuja, said he was ready to face trial and prove his innocence before the court.
Bankole and Nafada were accused of committing criminal breach of trust for allegedly conspiring between themselves to approve the allowances and running cost of members of the House of Representatives in violation of the approved Remuneration Package for Political, Public and Judicial Office Holders by the Revenue Mobilisation Allocation and Fiscal Commission and the extant Revised Financial Regulations of the Federal Government of Nigeria, 2009.
They were also accused of obtaining various loans totaling about N40bn in contravention of the extant Revised Financial Regulations of the Federal Government of Nigeria, 2009.
Their bail application will be heard today (Friday).
By Friday Olokor, Abuja                       Courtesy Of: Punch

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