Olaitan Aina, a businessman who is accused of receiving a million dollars on Christmas Eve, was remanded at the Ikoyi Correctional Services Centre on Friday by a Federal High Court in Lagos. Following the defendant's arraignment by the Economic and Financial Crimes Commission, Justice Nicholas Oweibo issued the ruling. The EFCC had filed a single money laundering-related count against the defendant, which led to his arraignment. According to EFCC attorney Ebuke Okongwu, the defendant committed the crime on December 24, 2012, in Lagos.
"That you AINA OLAITAN CHRISTOPHER on or about the 24th December 2012, accepted cash payment of N11,000,000 and thereby committed an offence contrary to Section 1(a) of the Money Laundering (Prohibition) Act, 2011 (as amended), and punishable under Section 16(2) (a) of the same Act," reads the charge. The defendant, however, entered a plea of not guilty to the alleged offense. After entering a plea, the defendant's attorney Kolapo Gbadamosi informed the court that an application for bail had been submitted on July 18 and served on the EFCC on July 20.
The Commission, however, was against the bail request. Okongwu asked the court to deny the bail request or, alternatively, to impose terms and conditions that will guarantee the defendant shows up for the trial. After hearing the arguments from both attorneys, Justice Oweibo granted the defendant bail in the amount of N5 million with one surety in the same amount in a bench decision. He stipulated that the guarantee must possess proof of three years' worth of tax payments and be the owner of a landed property in Lagos. The trial was postponed by the judge until November 29.
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