The four bloggers standing trial for the alleged blackmailing of Guaranty Trust Holding Company and its Group Chief Executive Officer, Segun Agbaje, have been denied bail because one of them, Precious Eze, was accused of being a serial offender.
Justice Ayokunle Faji of the Federal High Court in Lagos who denied them bail, ordered an accelerated trial of the four bloggers.
Apart from Eze, others dragged before Justice Faji by the Special Fraud Unit of the Nigeria Police Force are: Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami.
They are facing a 10 count amended charge for allegedly publishing false information about GTCO and Agbaje through various social media platforms.
At the resumed hearing of the matter on November 13 and 14, 2024, Justice Faji dismissed the bail applications, citing the serious nature of the alleged offences, which include charges that could lead to up to 14 years in prison.
The judge also held that Eze has shown the tendencies of committing the offence again if let out as he is currently charged with a similar offence in another court and was only out on bail when he went ahead to commit the alleged offence for which he is now standing trial.
Justice Faji also highlighted the potential destabilising impact such actions could have on the banking sector, particularly since some of the charges involved cross-border activities on the internet.
The defence counsel, Afolabi Adeniyi, had at the last hearing of the matter while moving an application for the bail for the accused persons argued that the defendants should be granted bail on liberal terms, emphasising that the charges were bailable and that the accused were willing to face trial.
Opposing the application, the prosecution Counsel, Chief Aribisala (SAN), urged the court to reject the bail request, highlighting the risk of the defendants absconding and stressing the need for an expedited trial.
In delivering his ruling, Justice Faji not only denied bail, but also ordered an accelerated trial, underlining the gravity of the charges.
He also noted that the defendants’ actions challenged the authority of regulatory bodies, including the Central Bank of Nigeria, which had approved GTCO’s audited statements.
The matter was adjourned to December 10 and 12, 2024 for the continuation of the trial.
