The Economic and Financial Crimes Commission (EFCC), on Thursday, arraigned two men, Taiwo Oluwadahunsola and Adebola Adetayo, before an Ikeja Special Offences Court for allegedly laundering the sum of N999 million.
A company, Green Eagles Agribusiness Solution Limited, was also arraigned alongside the defendants on a 19-count-charge, bordering on money laundering, conspiracy to steal, stealing and offences related to dishonoured cheque.
The defendants, however, pleaded not guilty to the charges preferred against them.
EFCC Counsel, Mrs Bilikisu Buhari, prayed the court for a trial date to enable the prosecution prove its case against the defendants, following their not-guilty plea.
The Defence Counsel, Mr Williams Ugwu, however, informed the court of a bail application for the defendants.
Ugwu moved the application and prayed the court to grant the defendants bail on liberal terms.
The Judge, Justice Olubumni Abike-Fadipe, granted the defendants bail in the sum of N50 million, with two sureties in like sum.
Abike-Fadipe ordered that the defendants be remanded in Ikoyi Correctional Centre, pending the perfection of the bail conditions.
The EFCC counsel, on one of the counts, submitted that the defendants stole N946 million, property of Volition Capital Investment Staff Eti-Osa Cooperative Multipurpose Society Limited.
Buhari, in another count, also said that the defendants concealed the genuine origin of N38 million through an account, Konate Agro Limited, the sum he was said to have derived from an illegal act through fraudulent conversion.
The judge adjourned the case till July 6 for trial.