Ex-Lagos AG Supo Shasore arraigned for ‘fraud’, granted N50m bail

The Economic and Financial Crimes Commission (EFCC) has arraigned Olasupo Shasore, former Lagos state attorney-general, over allegations of money laundering.

He was arraigned on a four-count charge before Chukwujekwu Aneke, judge of a federal high court in Lagos.

The former AG was alleged to have committed money laundering to the tune of $100,000 without going through a financial institution.

He, however, pleaded not guilty to the charge.

After his plea, Bala Sanga, prosecution counsel, prayed the court to order a remand of the defendant in custody pending trial.

However, Shasore’s counsel, Yemi Candide-Johnson, who appeared with three other senior advocates of Nigeria, prayed the court to grant the defendant bail on self-recognisance.

Candide-Johnson averred that the defendant showed up for arraignment without being reminded, coerced, or forced.

Additionally, he told the court that the defendant had always made himself and any documents sought from him available to the anti-graft agency whenever necessary.

Additionally, the defence attorney stated that the case had been under investigation for three years and that the defendant does not pose a flight risk.

After the defence counsel’s submissions, the prosecutor did not oppose the application for bail.

In his ruling, the judge granted the defendant’s bail application.

 “There is no doubt that the court must strike a balance based on the evidence before it, between the constitutional rights of the defendant to liberty and presumption of innocence and the rights of the state to prosecute its erring citizens,” the judge held.

“The defendant’s application for bail succeeds and  the bail is accordingly granted in the following terms:

“Defendant applicant is admitted to bail in the sum of N50 million with one surety in like sum.

“The surety must be a serving director or a permanent secretary in the service of the federation or the Lagos state government.

“Surety to produce two copies each of his or her recent passport photograph and evidence of payment of tax or tax clearance.

“The defendant’s international passport with the complainant shall be deposited with the registrar of this court pending trial.

“This is the ruling of the honourable court.”

The judge adjourned the case until November 24 for trial.