Justice Okon Abang of the Federal High, Abuja on Thursday, November 7, 2019 granted bail to Richard James Nolan in the sum of N500million (Five Hundred Million Naira).
The defendant is a director in Goidel Resources Limited, a Designated Non-Financial Institution “DNFI” and faces a 15-count money laundering charge alongside Adam Quin (at large) from the Economic and Financial Crimes Commission, EFCC. He was arraigned on Monday, October 21, 2019.
The matter is related to the controversial Process and Industrial Development, P&ID gas processing and utilization contract scam.
The court upon Nolan’s arraignment on Monday, October 21, 2019, ruled against the oral bail application of the defendant and remanded him in a Nigerian Correctional Service Centre, pending consideration of his bail application.
At today’s sitting, prosecution counsels, Bala Sanga and E.E.Iheanach, noted that the defendant could jump bail and filed a counter-affidavit against his bail application.
However, Justice Abang granted the defendant bail in the sum of N500million (Five Hundred Million Naira) with one surety in like sum. The surety, the judge ruled, must be a Senator of the Federal Republic of Nigeria who must also own a property in Nigeria and has no pending corruption case.
Additionally, the surety shall depose to a court affidavit, stating his or her preparedness to attend court proceedings with the defendant every day the matter comes up in court for trial and shall also provide,three years evidence of tax payment.
Justice Abang adjourned the case till November 20 and 21, 2019 for continuation of trial.