The Federal High Court in Yola, Adamawa State, has remanded Festus Agbomodion in the Yola Correctional Centre after he was arraigned by the Gombe Zonal Command of the Economic and Financial Crimes Commission (EFCC).
The suspect faced charges related to intent to defraud and obtaining under false pretense, involving the sum of N12,500,000.00.
Agbomodion was presented before Justice A. M. Anka on Thursday, accused of collecting the said sum from Mr. Johnson Femi in 2019 with the promise of supplying two trucks of diesel to Bretrogeen Enterprises Limited.
However, the EFCC alleges that he failed to fulfill this commitment, leading to the charges brought against him.
Background
The charges against Agbomodion stem from an incident in 2019 when he purportedly obtained N12,500,000 from Mr. Johnson Seun Femi, claiming it was meant for the supply of two trucks of diesel to Bretrogeen Enterprises Limited.
The accused, alongside Okeke Magnus, is also accused of retaining the sum with the knowledge that it constituted proceeds of unlawful activity, as stipulated in the Money Laundering Act, 2011.
Upon arraignment , Agbomodion pleaded not guilty. Prosecution counsel, M.O. Labaran, requested a trial date, while the defense counsel, S.O. Akporido, informed the court of an existing bail application for the defendant.
Court’s decision:
The judge granted bail to Agbomodion in the sum of Five Million Naira, with one surety in like sum.
Part of his bail condition requires that the surety must be a resident with a landed property in the defendant’s community.
In light of these developments, Agbomodion is remanded in the Adamawa Correctional Centre until the fulfillment of his bail conditions.
The court subsequently set the trial date for 29th February 2024.