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Court Grants Lagos Businessman, Akintoye Akindele N500 Million Bail

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Court Grants Lagos Businessman, Akintoye Akindele N500 Million Bail

A Federal Capital Territory High Court sitting in Maitama, Abuja, has granted Lagos businessman, Akintoye Akindele, N500 million bail.

Within naija reports that the Police had charged Akindele on Tuesday on one count of bribery so he could escape abroad.

As per the police prosecution team, the defendant offered a N150 million bribe to police officers investigating a case of fund diversion brought against him. and made a partial payment of N50 million.

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The prosecution said the offense is punishable under Section 118 of the Penal Code Law.


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Akindele, however, argued not guilty when the charge was perused to him, after which his lawyer applied for his bail.

In a decision on Tuesday, Equity Hamza Muazu rejected the request by the lawyer for the prosecution, Simon Lough (SAN) to further detain the defendant to enable the police to conclude their investigation.

Justice Muazu agreed with the defence lawyer, Henry Eni-Otu, that the offence, with which the defendant was charged, is ordinarily bailable.

He granted Akindele bail to the tune of N500 million with two sureties in like sum, adding that one of the sureties must own a landed property within the jurisdiction and should be a resident of the Federal Capital Territory.

Justice Muazu, who is sitting as the courtโ€™s vacation judge, also ordered the defendant to deposit his passport with the court and ordered the return of the case file to the Chief Judge for reassignment.