http://odili.net/news/source/2008/jul/8/401.html
We have evidence to nail Borishade, Fani-Kayode, says EFCC.

The Economic and Financial Crimes Commission on Monday said it had enough evidence to prove that two former ministers of Aviation — Dr. Babalola Borishade and Femi Fani-Kayode — mismanaged the N19.5bn Aviation Intervention Fund.

In the same vein, the commission informed the Abuja Chief Magistrates’ Court that it was still gathering documentary and oral evidence against the two men and a former Managing Director of the Nigerian Airspace Management Agency, Mr. Roland Iyayi, who is also standing trial in connection with the disbursement of the fund.

These disclosures by the EFCC were contained in its affidavit opposing the bail applications by the accused persons.

A member of staff of the EFCC, Mr. Yusuf Musa, who deposed to the counter-affidavit, averred as follows:

That the accused and others were facing offences of criminal conspiracy, breach of official trust and misappropriation of N19.5bn belonging to the Federal Government;

That full scale investigation into the matter is still going on;

That some foreign firms are also involved in the said offences;

That all efforts are being made to reach out to all the contractors both within and outside Nigeria;

That we are fast gathering both documentary and oral evidence against the accused and others;

That the past criminal records of the accused are not yet within our knowledge;

That it will be in the interest and protection of the accused to refuse the application; and

That granting their application will frustrate successful completion of the on-going investigation and eventual trial.

Musa therefore urged Chief Magistrate Lamido Kadiri not to release them on bail because they could elope.

A Senior Detective Superintendent with the EFCC, Mr. Steve Odiase, who argued the counter-affidavit during the resumed hearing of the case on Monday, said many Nigerians were annoyed with the way the N19.5bn was squandered.

Odiase said, “We submit that we have already got enough evidence to prove our case against the accused and the accused being heavy- weights with a lot of money and influence have the undoubted capacity to escape trial and interfere with the course of justice if this application is granted.

“We further submit that refusing this application will be in the interest of the accused as the said N19.5bn in question belong to the taxpayers and the entire Nigerians and some of these people are in court now and outside. Continued detention of the accused therefore will be for their protection as their lives still remain very dear to us.”

Counsel to the accused — Mr. Mike Ozhekhome, Mr. Bankole Akomolafe and Mr. Muyiwa Akinboro — took their turn to counter the reasons given by the EFCC on why the bail applications should be rejected.

Ozhekhome, who is Fani-Kayode’s lawyer told the court that it was unconstitutional for EFCC to detain the accused while investigation had not been concluded into the allegations against them.

Akomolafe, representing Borishade, said that the Supreme Court had frowned at the practice of detaining suspects and refusing them bail when investigations had not been concluded.

Iyayi’s lawyer, Akinboro accused the anti-graft agency of abusing the process of the court by bringing frivolous charges against his client.

After the arguments by the lawyers ended around 11.15am on Monday, Chief Magistrate Lamido Kadiri, retired to his office. When he returned around 6.10am, he admitted Borishade, Fani-Kayode and Iyayi to bail under stringent conditions.

Also admitted to bail was the Head of Operations of M/S Avsatel of Vienna in Nigeria Mr. George Eider, who was also arrested and detained for alleged inflation of contracts for the tower projects in the four airports.

The two former ministers were granted bail in the sum of N50m and a surety in like sum.

The sureties must be permanent secretaries and owners of landed property in Maitama, Wuse or Asokoro districts of Abuja.

The Austrian was granted bail in the sum of N10m and a surety in like sum who must have risen to the post of a director in any government office.

The surety must also be an owner of landed property in Abuja.

However, the accused could not perfect the bail conditions as 7pm when this story was filed.

The Chief Magistrate adjourned the case to September 29.

Meanwhile, the Senate Committee on Aviation has said it will soon fix a new date for the Minister of Finance, Dr. Shamsudeen Usman, and his counterpart in the Ministry of Justice, Mr. Michael Aondoakaa, to appear before it.

Usman and Aondoakaa had twice failed to honour invitations by the committee to offer explanation on the management of the Bilateral Air Services Agreement Fund with the Central Bank of Nigeria.

The committee had wondered why the N6.5bn for the rehabilitation of four of the nation’s airports came from a commercial bank as loan and not from the BASA account.

The Chairman of the committee, Senator Anyim Udeh, told our correspondent on Monday that the committee would meet to decide when the two ministers would appear.

”We are going to decide on when they would be taken. We have to reach that decision this week,” Udeh said.

He ruled out the possibility of them testifying behind closed doors.

EFCC pls nail them oooooooh!