Arms Deal Scam: Contractor Granted Bail On Strict Terms


The Federal High Court Abuja, presided by Justice Nnamdi Dimgba on Monday, granted bail to the Managing Director of Almond Projects Limited, Olugbenga Obadina, who allegedly collected a sum of N2.4 billion from the Office of the National Security Adviser, ONSA, under Col. Sambo Dasuki (retd) purportedly for a fraudulent contract.

The suspect was arraigned on Friday by the Economic and Financial Crimes Commission, EFCC, alongside his company, Almond Projects Limited, on an eight-count charge for allegedly collecting N2,417,000,000 paid into his company’s account in tranches, between 2013 and 2015 from the account of the ONSA under Col. Sambo Dasuki (retd) without contract award. An offence which is contrary to Section 15(2), (d) of the Money Laundering (Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.

Justice Dimgba granted bail to the defendant (Obadina) in the sum of N500 million and two sureties in the sum of N250million each and must enter a bail bond with the court and they must provide evidence of income tax payment for three years.

The sureties can be a private businessman, professional or civil servant of the rank of a director. They must have landed properties either in Asokoro, Maitama, Apo Legislative quarters, Wuse II area of Abuja, or Victoria Island, Lagos State.

Additionally, the defendant must deposit his international passports with the registrar of the court, and must go to the EFCC to comply with Section 15 of the Administration of Criminal Justice Act, which entails submitting himself for biodata collection, fingerprinting, snapshot and necessary profiling.

Meanwhile, the defendant is to be remanded in prison custody pending satisfaction of his bail conditions.

The matter has been adjourned to September 30 and October 4, 2016 for trial.