The EFCC accused Adenmosun of executing a N26.6 billion money laundering fraud.

On Friday, the anti-graft agency took the former bank director, his firm, Home Trust Savings and Loan Limited, and a private company, Rare Properties and Development Limited, before Justice Daniel Osiagor.

The EFCC slammed a 10-count criminal charge of conspiracy, money laundering, and fraudulent conversion of the proceeds of private placement raised from the public in the name of Investments & Allied Assurance Plc against the defendants.

Following Adenmosun’s ‘not guilty’ plea, EFCC prosecutor, Rotimi Oyedepo, asked the judge to fix a trial date.

Oyedepo urged the court to remand him in the custody of the Nigerian Correctional Services (NCoS) till the determination of the charge.

Reacting, the former bank PHB director through his lawyer, Wale Adesokan, disclosed that a bail application has been filed and served on the prosecution, asking the court to release his client.

In his decision, Justice Osiagor denied the EFCC’s motion and granted the defendant bail in the sum of N250 million with two sureties.

The case has been adjourned for hearings on February 25 and March 4, 2022.