Alleged N109bn Fraud: Court revokes bail of Ex-AGF Idris, co-defendant Akindele

Alleged N109bn Fraud: Court revokes bail of Ex-AGF Idris, co-defendant Akindele

Justice Yusuf Halilu revoked the bail previously granted to former Accountant-General of the Federation, Ahmed Idris, and co-defendant Geoffrey Olusegun Akindele in a trial concerning an alleged fraudulent diversion of public funds amounting to N109.5 million.

The bail revocation stemmed from Mr Akindele’s failure to appear in court for the continuation of the trial. The defendants, including Mohammed Kudu Usman and Gezawa Commodity Market and Exchange Limited, are facing a 14-count charge of stealing and fraudulent diversion of public funds, as brought by the Economic and Financial Crimes Commission (EFCC).

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It was alleged that Idris, while serving as the Accountant-General of the Federation, received a gratification of N15,136,221,921.46 from Akindele, which was converted to its dollar equivalent. This money was allegedly unrelated to Idris’s remuneration and was purportedly intended to expedite the payment of the 13% derivation to nine oil-producing states in Nigeria through the Office of the Accountant-General of the Federation.

Additionally, Idris and Akindele were accused of criminal breach of trust for dishonestly receiving N84,390,000,000 from the Federal Government through Akindele’s company. Both defendants entered pleas of not guilty to the charges.

During the latest court hearing, Akindele was absent, leading to the revocation of his bail by Justice Halilu. Despite Akindele’s counsel’s plea that his client was on his way to court and had been present for previous trial dates, the judge maintained that the defendant’s conduct reflected unfavorably on him, subsequently revoking his bail. The judge ordered the arrest of Akindele and adjourned the case until February 1, 2024, for further proceedings.

Furthermore, the prosecuting counsel highlighted that the prosecution had received a letter from Idris’s lawyer and expressed concerns over the absence of legal representation for Gezawa Commodity Market and Exchange Limited, labeling it as a potential tactic to delay the trial.