A High Court of the Federal Capital Territory (FCT) in Apo has scheduled ruling for May 25 on an application for bail filed by the detained former Chairman of Skye Bank Plc, Tunde Ayeni.

Justice Jude Onwuzuruike chose the date on Wednesday after taking arguments from lawyers to both the prosecution and defence.

Ayeni is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a 17-count charge bordering on alleged criminal breach of trust, misappropriation and conversion of investors’ funds to the tune N15,665,085,429.

He was arraigned on May 4 during which he pleaded not guilty, following which Justice Onwuzuruike ordered that he be remanded in Kuje prison pending the determination of his bail application.

On Wednesday, Ayeni’s lawyer, Dele Adesina (SAN), while moving his client’s bail application, told the court that his client had previously been granted administrative bail by the EFCC.

Adesina said the administrative bail was about to be perfected when the court ordered that the defendant

The defence lawyer argued that Ayeni enjoyed the constitutional presumption of innocence and that the offences in the charge were bailable.

Lawyer to the prosecution, G. I. Inde urged the court to deny the defendant bail.

Inde said the prosecution had also filed a 23-paragraph counter-affidavit with an annexed exhibit to show why the defendant should remain in detention.

Source: The Nation News