The Ilorin Zonal Office of the Economic and Financial Crimes Commission (EFCC) arraigned Banu, alongside with Travel Messenger Company Limited and one Olarewaju Adeniyi, on a nine count charge.
The presiding judge, Justice Babagana Ashigar, who made the order said the defendant was alleged to have conspired with others to launder the sum of N411 million belonging to the state government.
Count one of the charge reads: “That you, Olarewaju Adeniyi, Ademola Banu and Travel Messenger Limited between January to December 2018 conspired among yourselves to commit an offence, to wit
“Converted the sum of N411 million property of Kwara state government, which sum you reasonably ought to know was derived from fraud.
“Thereby committed an offence contrary to Section 18 (a) of the Money Laundering (Prohibition)amendment) Act, 2012, and punishable under Section 15 (3) and (4) of the same Act. ”
However, the defendants pleaded not guilty when the charges were read to them in Court.
Counsel to EFCC, Nnaemeka Omewa urged the court to remand the defendant in Correctional Facility, pending the hearing and determination of the case.
Defence Counsels Gboyega Oyewole and Bamidele Ibironke however prayed the court to grant bail to their clients, arguing that the offences in which the defendants are standing trial are bailable.
Prosecuting Counsel in opposing the bail applications of the defendant, filed a counter affidavit and urged the Judge not to accede to the request.
Justice Ashigar adjourned the ruling of the application until Feb. 10, and ordered the defendants to be remanded in EFCC custody.
Edited By: Muhammad Suleiman Tola