The Court of Appeal in Yola has granted bail to businessman Fred Ajudua, setting aside a November 2025 decision of the Lagos State High Court that refused him pre-trial release over alleged fraud charges.
In a judgment delivered on January 30, Justice Frederick Oho held that the trial court misapplied a previous Supreme Court ruling in denying the defendant bail. Justices Olusumbo Goodluck and Abdulazeez Waziri consented to the lead judgment.
The appellate court held that the lower court relied on extraneous considerations and misinterpreted the Supreme Court’s ruling, noting that the apex court did not expressly prohibit Ajudua from filing a fresh bail application.
“The affidavit evidence and medical reports disclosed special and exceptional circumstances which the trial court ought to have relied upon,” the court held.
Ajudua, 65, is standing trial on charges of conspiracy, obtaining money by false pretense, and forgery. He had applied for bail citing deteriorating health, including chronic kidney disease with a solitary kidney.
Bail Conditions
The court granted bail in the sum of N30 million with two sureties in like sum. Each surety must depose to an affidavit of means and show evidence of property worth at least N50 million within Lagos State. Ajudua is to surrender his passport and remain in Nigeria throughout the trial.
The Economic and Financial Crimes Commission (EFCC) had opposed the application, but the court dismissed its preliminary objections, describing them as lacking merit.
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