The EFCC opposed the bail application for Mr. Ogunbambo
A Lagos High Court sitting in Ikeja, Thursday, refused Seun Ogunbambo’s request to be granted bail.
Mr. Ogunbambo is charged, alongside Mamman Ali, son of former chairman of Peoples’ Democratic Party; Christian Taylor; and Nasaman Oil Services, with a 14-count of subsidy fraud.
While the duo of Messrs Ali and Taylor had been granted bail; Adeniyi Onigbanjo, the trial judge, stated that Mr. Ogunbambo is surrounded by “peculiar circumstances.”
“As far as I’m concerned, the most important thing is an assurance that the applicant will not abscond before trial,” Mr. Onigbanjo said.
“An assurance which does not exist in the applicant’s bail application. I am, therefore, unable to exercise my discretion,” he added.
The judge fixed February 6, 13, and 21st for trial.
In their argument opposing the suspect’s application for bail, the Economic and Financial Crimes Commission, EFCC, pointed at Mr. Ogunbambo’s “criminal antecedents” as well as his notoriety for jumping bail whenever granted.
The commission also listed the string of criminal cases hanging over the suspect which the judge admitted were not capital offences but felonious.
Mr. Ogunbambo is involved in two other fuel subsidy fraud cases, with the EFCC saying they are preparing more charges against him.
He is also involved in a bank fraud case where he is being accused of fraudulently obtaining a credit facility from Stanbic IBTC bank amounting to over N1.2 billion.
Last week, Olabisi Akinlade, the trial judge in the matter, also ruled that he should be remanded at the Kirikiri Maximum Security Prison, Lagos.
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