Send Him Back To Ikoyi Prison! – Court Rules As Funmi Adenmosun’s Alleged N26.6b Investment Fraud Trial Continues

Justice Daniel Osiagor of the Federal High Court sitting in Ikoyi, Lagos, on Thursday, March 3, 2022, remanded one Funmi Adenmosun, who is being prosecuted for an alleged N26.6bn investment fraud, in the Nigerian Correctional Services, NCoS, Ikoyi, Lagos, for his inability to perfect his bail conditions.

The Lagos Zonal Command of the EFCC had on Friday, January 21, 2022, arraigned Adenmosun alongside two companies, Home Trust Savings and Loan Limited and Rare Properties and Development Limited on a 10-count charge bordering on conspiracy and money laundering to the tune of N26, 600, 000,000 (Twenty-six Billion Six Hundred Million Naira).
He pleaded not guilty to the charge when it was read to him. Consequently, Justice Osiagor had granted the defendant bail in the sum of N250m, with two sureties. One of the sureties must be a Grade Level 15 officer either in the Federal or State Ministry, while the other must be a blood relation of the defendant.
The Judge had further directed that the defendant be remanded in the EFCC custody pending the perfection of his bail conditions. At the resumed hearing, Adenmosun through his counsel, Wale Adesokan, SAN, prayed the court to change his remand in the EFCC custody to Ikoyi Correctional Centre pending the perfection of his bail conditions. Justice Osiagor granted his prayer and remanded him in the Ikoyi Correctional Centre.

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