Justice Taiwo Taiwo of the Federal High Court in Abuja, on Wednesday granted bail to Mrs. Isabella Mimie Oshodin who is being prosecuted by the Economic and Financial Crimes Commission, EFCC for alleged money laundering to the tune of N22.96bn.
Oshodin was arraigned alongside her company, Bob Oshodin Organisation Limited on Monday and is facing a 25-count charge to which she pleaded “not guilty”.
Her counsel, Osahor Odemodia, had moved an application for bail and urged the court to grant her bail on liberal terms, pending the commencement of trial.
Ruling on the application, on Wednesday, Justice Taiwo granted her bail in the sum of N250 million, with two sureties in like sum, one of whom must own a property worth N500 million 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. She was also ordered 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 commencement of trial.