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The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Thursday, October 20, 2022, arraigned a former Attorney-General of Lagos State, Olasupo Shasore, SAN on a four-count charge bordering on money laundering to the tune of $100, 000(One Hundred Thousand Dollars) before Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos.
Count one reads: “ That you, Olasupo Shasore, SAN, on or about the 18th day of November, 2014 in Lagos, within the jurisdiction of this Honourable Court, induced Olufolakemi Adelore to commit an offence to wit; accepting cash payment of the sum of US100, 000.00 (One Hundred Thousand United States Dollars) without going through a financial institution, which sum exceeded the amount authorized by Law and you thereby committed an offence contrary to Section 78(c) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under section 16(6) of the same Act.”
Count two reads: “That you, Olasupo Shasore, SAN, on or about the 18th day of November, 2014 in Lagos, within the jurisdiction of this Honourable Court, in a transaction without going through a financial institution, made cash payment of the sum of USD 100, 000.00 (One Hundred Thousand United States Dollars) to Olufolakemi Adelore through Auwalu Habu and Wole Aboderin, which sum exceeded the amount permitted by Law and you thereby committed an offence contrary to Sections 1(a) and 16(1)(d) the Money Laundering(Prohibition) Act, 2011 (as amended) and punishable under Section 16(2)(b) of the same Act.”
Count three reads: “That you, Olasupo Shasore, SAN, on or about the 18th November, 2014 in Lagos, within the jurisdiction of this Honourable Court, induced one Ikechukwu Oguine,to commit an offence, to wit: accepting cash payment of the sum of USD100, 000. 00 (One Hundred thousand United States Dollars), without going through a financial institution, which such amount exceeded the amount permitted by Law and you are thereby committed an offence contrary to Section 18(c) of the Money Laundering Act, 2011 (as amended) and punishable under Section 16 (2)(b) Of the same Act.”
Count four reads: “That you, Olasupo Shasore, SAN, on or about 18th day of November, 2014 in Lagos, within the jurisdiction of this Honourable Court, without going through a financial institution made cash payment of the sum of USD100, 000.00 (One Hundred thousand United State Dollars) to one Ikechukwu Oguine, which sum exceeded the amount permitted by Law and you thereby committed an offence contrary Sections 1(a) and 16(1),(d) of the Money Laundering (Prohibition Act, as amended) and punishable under section 16 (2)(b) of the same Act.”
He pleaded “not guilty” to the charges.
In view of his plea, the prosecution counsel, Bala Sanga, asked for the court to remand the defendant in the prison custody pending trial, and also sought a date for the commencement of trial.
In response, counsel to the defendant, Yemi Candide-Johnson, SAN, informed the court of a pending bail application filed and dated October 13, 2022, and also asked the court to admit his client to bail on self-recognisance.
Candied-Johnson, while making his submissions, also informed the court that the defendant had been under investigation for over three years, and that he had been unable to travel outside the country “because his passport is in the custody of the EFCC.”
He said: “My Lord, I respectfully submit that the defendant should be granted bail on self-recognisance because of his position in the legal profession.
“This case has been under investigation for three years and he has not taken any flight since then.
“His greatest interest is to vindicate himself and take his trial.”
Candide-Johnson also prayed the court to give the defence a period of seven days to enable it perfect the bail conditions that may be granted the defendant, if the bail is not granted on self-recognizance.
The defence counsel further asked that the passport of the defendant be put in the custody of the court subject to the ruling on bail.
When asked by the court if the prosecution would be opposing the bail application, Sanga responded that “bail is at the discretion of the court.”
He, however, prayed that the defendant be admitted to bail on conditions that would enable him stand his trial.
Justice Aneke granted the defendant bail in the sum of N50m (Fifty Million Naira), with one surety in like sum.
The surety must be a serving Director or a Permanent Secretary in the employment of Lagos State.
The surety must deposit two passport photographs and evidence of tax payment with the court.
Justice Aneke also held that the passport of the defendant be deposited with the Registrar of the Court.
The matter was adjourned till November 24, 2022 for commencement of trial.
