Justice Ayokunle Faji of the Federal High Court in Lagos has refused bail to four bloggers accused of defaming the management of Guaranty Trust Holding Company (GTCO), including its group CEO Segun Agbaje.
The court has also ordered an expedited trial for the defendants.
The accused—Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami—are facing 10 amended charges, including cyberstalking and publishing false information about the company across multiple social media platforms.
At the hearing on November 13 and 14, Justice Faji rejected the bail applications, citing the serious nature of the alleged offences, some of which carry potential sentences of up to 14 years in prison. The judge specifically pointed out that one of the defendants, Eze, had a history of similar charges and was on bail for another case when the current alleged offence took place.
Justice Faji also emphasised the potential harm such actions could cause to the banking sector especially given that some of the charges involve international cyber activities.
Defense counsel Afolabi Adeniyi earlier argued that the defendants should be granted bail on liberal terms, stressing that the accused were prepared to face trial. However, prosecution counsel Chief Aribisala opposed the application, warning that the defendants might flee.
In his ruling, Justice Faji not only denied bail but also stressed the urgency of the trial, highlighting the severity of the charges and the potential destabilising effect on regulatory bodies including the Central Bank of Nigeria (CBN) which approved GTCO’s audited financial statements.
The case has been adjourned to December 10 and 12 for the continuation of the trial.
