02 August 2012, Sweetcrude, LAGOS – JUSTICE Habeeb Abiru of an Ikeja High Court Wednesday granted a bail of N100 million to Abdulahi, son of Ibadan-based business man, Alhaji Alao Arisekola over his involvement, together with his company, Axenergy Oil, in the fuel subsidy scam to the tune of N1.9 bilion.
Arisekola’s son was last week arraigned before Justice Habeeb Abiru, who refused to hear his bail application based on the objection raised by Economic and Financial Crimes, EFCC’s counsel, Rotimi Jacobs, who said he will file a counter affidavit on point of law.
The ruling followed arguments canvassed by counsels to both parties.
The defense counsel, Babajide Koku, SAN, had argued that Alao never had any criminal record and he is presumed innocent until proven guilty by the court.
“We depose that he will not jump bail. He is a family man. He will be available whenever required. He has a name to protect. Our prayer is that your lordship grant the first defendant bail on liberal terms.”
However, EFCC counsel, Rotimi Jacobs argued that the court should consider the fact that the amount involved in the case was high and the judge should refuse the bail application.
Justice Abiru granted him bail in the sum of N100 million with two sureties who must be residents and owners of landed property in Lagos.