The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned a former governor of Oyo State, Adebayo Alao-Akala alongside the former Oyo State Commissioner for Local Government and Chieftaincy Matters, Sen. Hosea Agboola and an Ibadan based businessman, Mr Femi Babalola.
They were. Charged at the Oyo State High Court sitting in Ibadan over an alleged N11.5bn fraud.
They are facing 11 counts charges, on conspiracy, awarding a contract without budgetary provision, obtaining by false pretence, acquiring property with money derived from an illegal act and concealing the ownership of such property, among others.
Counsel to the complainants, Dr. B. Ubi, told the court that Alao-Akala awarded a road contract during his regime, it worths N8.5bn between 2007 and 2009 to Pentagon Engineering Services, owned by Babalola, and handled the contract on behalf of the 33 local governments without budgetary provision for such.
Ubis further claimed that Alao-Akala ordered the supply of drilling machines on behalf of the 33 local governments in the state, running to N3.5bn.
He also alleged that Alao-Akala conspired with Ayoola to withdraw N2.9bn from Oyo State Local Government Joint Account.
The prosecutor told the court that Alao-Akala during his tenure also illegally acquired some properties on Old Bodija road, off Rotimi Williams road.
And that it was against Section 22, subsection 4 of the Corrupt Practices and Other Related Offences Act and Section 1, subbsection 18 of the Advanced Fee Fraud Act.
The defendants pleaded not guilty to all the charges.
Counsel to the former Governor and Babalola, Mr. Hakeem Afolabi, SAN prayed the court to grant bail onto the defendants.
Afolabi reminded the court that the case before the court was not a fresh one but a re-arraignment and said the matter was first filed on October 11, 2011 before Justice Moshood Abas and bail was granted after the defendants met the conditions, the defendants had also appeared before Justice Akintunde Boade and Justice Bayo Taiwo who was recently transferred out of Ibadan Division.
Afolabi said Alao-Akala was granted bail in the sum of N5m with two sureties in like sum; while the other defendants were granted bail in the sum of N3m each with two sureties in like sum.
Afolabi urged the court to allow the defendants to enjoy their earlier bail conditions.
In his view, Counsel to Ayoola, Mr. Richard Ogunwole, SAN aligned with the submission of Alao-Akala’s counsel and the Prosecuting counsel said he would not oppose the bail applications.
Then, the Presiding Judge, Justice Muniru Owolabi granted the defendants’ prayers and adjourned the case till April 16 for trial.