Public relations expert and politician, Tokunbo Modupe, has been released on bail by Justice Muslim Hassan of the Federal High Court, Ikoyi, Lagos.
Mr Tokunbo is standing trial alongside Ondo State Peoples Democratic Party (PDP) chairman, Clement Faboyede.
The duo are accused by the Economic and Financial Crimes Commission (EFCC) over N500miilon logistics funds allegedly misappropriated during the 2015 presidential election.
They were arrested in June and detained at the Ikoyi Prisons.
Modupe served as campaign coordinator for former President Goodluck Jonathan in Ondo State.
The charges as prepared by the EFCC read: “Clement Faboyede and Modupe Adetokunbo and others at large on or about the 27th day of March, 2015, conspired among themselves to accept cash payment in the sum of N500 million from one Owolanke Michael which exceeded N5 million without going through a financial institution contrary to section 1 of the money laundering (prohibition) Act, 2011 (as amended by Act 1 of 2012) and punishable under section 16(2) of the same Act.
“Faboyede, while acting as the state chairman of the PDP on 27th day of March, 2015 was alleged to have made cash payment of the sum of N500 million to the Ondo State Election Committee of the PDP which exceeded N5 million without going through a financial institution contrary to section 1 of the money laundering (prohibition) Act, 2011 (as amended by Act 1 of 2012) and punishable under section 16(2) of the same Act.”
Justice Hassan, who had listened to the argument of both the prosecution and defence last week, ruled on Wednesday that Faboyede and Modupe be admitted to bail while hearing on the substantive suit continues on September 17, 2018.
In a 30-minute ruling, Justice Hassan gave the bail conditions to include one surety each worth N50 million or a civil servant on Grade Level 15 with landed property within the jurisdiction of the court.
The judge also granted the request of defence counsel, Eyitayo Jegede (SAN) for the defendants to be released to him on self-recognition pending the fulfilment of the bail conditions.
The PDP accuses the EFCC of persecuting the duo.
Addressing newsmen earlier in the month in Akure, that party’s national vice chairman, south-west, Eddy Olafeso and state elders’ committee chairman, Prof Olu Agbi, condemned the detention of Faboyede and Modupe.
Olafeso said: “This is unfair, unjust and this is not how to fight corruption. The APC government is all bastion of corruption, of all the so many corruption cases, levied against members of APC, from inception till date, none of them has been taken to court not to talk being jailed.
“The PDP in South West detests this and we are vehemently saying that they should release Faboyede. If the intention was for these gentlemen to be blackmailed, they have failed woefully.”
On his part, Agbi said: “As Elders of the Party, we aware that the fund was sent to the party by the National headquarters, it was duly collected on behalf of the party by the duo and its disbursement to all the polling units was perfectly administered.
“We, the elders’ committee of the PDP in Ondo State note firmly the arrest and prosecution of Engr Faboyede, and Tokunbo Modupe, campaign coordinator of President Goodluck Jonathan in 2015 over the N500 million Election logistics fund.”
