Blackmailing Of GTCO, CEO: Bloggers denied bail due to history of serial offenders

Justice Ayokunle Faji of the Federal High Court in Lagos has denied bail to four bloggers accused of defamation and cyberstalking against the management of Guaranty Trust Holding Company (GTCO) and its Group CEO, Mr. Segun Agbaje. The court has ordered an expedited trial for the defendants, citing their history of similar offences.

The defendants, Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami, face 10 amended charges related to publishing false information about GTCO on various social media platforms.

During the hearing on November 13 and 14, Justice Faji dismissed the bail applications, emphasizing the serious nature of the charges, which could carry a prison sentence of up to 14 years. The judge highlighted the repeat offending nature of one of the accused, Precious Eze, who was already on bail for a similar offence at another court when he allegedly committed the current offences.

Justice Faji further noted the potential damage such defamatory actions could have on the banking industry, especially given the international implications due to the cross-border nature of the online activities involved.

Defense counsel Afolabi Adeniyi had previously argued for bail on lenient terms, stressing that the charges were bailable and that the defendants were prepared to face trial. However, Chief Aribisala, SAN, representing the prosecution, opposed the request, citing concerns over the likelihood of the defendants absconding and underscoring the need for a swift trial.

In his ruling, Justice Faji not only denied bail but also ordered an accelerated trial, emphasizing the severity of the case. He pointed out that the actions of the accused undermined the authority of regulatory bodies like the Central Bank of Nigeria (CBN), which had validated GTCO's audited financial statements.

The case has been adjourned to December 10 and 12 for the continuation of the trial.