Justice Taiwo Taiwo of the Federal High Court sitting in Abuja, on Wednesday granted bail to an American based businesswoman, Mrs Isabella Mimie Oshodin in the sum of N250 million.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Oshodin, alongside her company, Bob Oshodin Organisation Limited for alleged money laundering to the tune of N22,964,228,414.
Oshodin, who was arraigned on Monday is facing a 25-count charge, bordering on sales of a furniture manufacturing company to the Federal government to the tune of $55 million, which she pleaded “not guilty”, alongside her company.
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Her counsel, Osahor Odemodia, had moved an application for her bail, urging the court to grant her bail on liberal terms, pending the commencement of trial.
The EFCC vehemently objected to the bail application on the grounds that the defendant may likely jump bail if granted because her husband and all her children are based in the United States of America.
EFCC’s counsel, Aisha Habib, however, said if the court was inclined to grant the application, it should do so with some conditions that will ensure the defendant is available to face her trial.
Ruling on the application yesterday, Justice Taiwo granted her bail in the sum of N250 million with two sureties in like sum.
According to the judge, one of the sureties must own a property worth N500million in Asokoro or Maitama areas of Abuja and must submit the documents to the Chief Registrar of the Court.
The Court also ordered her to deposit her international passport and should not travel outside of the country.
The court also ordered the businesswoman to report once a month at the EFCC Office until the final determination of the suit.
Pending fulfilment of the bail conditions, the trial judge ordered that she should be remanded in EFCC custody “who shall attend to her health conditions, and if need be, take her to the National Medical Centre if the medical facility of the EFCC is inadequate to treat her”.
The case has been adjourned to October 15, 16, 17 and 22, 2019 for the commencement of trial.
The defendant was alleged to have sold the company to the Federal government in 2014 and received the alleged sum through the office of the National Security Adviser (ONSA), then under Col. Sambo Dasuki (Rtd).
The anti-graft agency also alleged that the defendant received the said amount in about 15 tranches through Bob Oshodin Organisation Limited, which she in the charge.
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