Came across the story below and couldn't help but wonder why a judge will set a bail specifically in a foreign currency (US dollars: $250,000 cash), and especially in this current economic reality?


Following the remand of the Vice Chancellor of the Elizade University, Ilara-Mokin in Ifedore local government area of Ondo state, Prof. Kunle Oloyede,by a magistrate Court in Akure, Ondo state capital, his family has cried out over the possibilities of meeting the bail terms given to the embattled VC.

Oloyede who was dragged to the Magistrate Court for alleged fraudulent practices in the award of contract by the university, has been remanded in Olokuta prison for the past 10 days over his inability to meet the bail conditions given by Magistrate Ayodeji Akinsanya .

Some of the conditions to be fulfilled by Oloyede to guarantee his temporary release included the submission of his international traveling documents, two sureties who are directors in the State Civil Service and the payment of $250,000 in cash.

Addressing reporters on Wednesday at the court premises,, the wife of Prof Oloyede, Lade and the lawyer to the family, Mr Olusola Oke alleged that the bail conditions which included the payment of $250,000 in cash upfront could not be met because of the economic situation of the country.

Mrs Oloyede lamented that the bail conditions given to her husband by the court was an indication that the embattled VC had been convicted even before the trial.

She said “The case for the prosecution was presented by the Attorney-General of Ondo State, Mr. Remi Olatubora, which we have been advised by various senior legal sources is unusual. The special interest of the Ondo State AG, to “prosecute” a complaint lodge is still mind troubling smell of bias.

“Professor Oloyede was arraigned and charged at Akure Magistrate with a bailable offence and the bail hearing was held on Tuesday 17 January 2017. It is cleared that the whole judicial system was rigged when bail condition was set in US dollars at an amount of $250,000USD to be paid in cash upfront!
“Professor Oloyede has a right to file a variation for this set bail, however repeated attempts to present the variation request in court were frustrated such that Professor Oloyede remained in custody in excess of one week.

“ No one knows for how long, Prof Oloyede will remain in custody as the prosecution, with significant involvement from the Attorney General of Ondo State has advised the court that they will not have a lawyer available to present for a hearing until Friday 27 January 2017, which is the date that the trial is due to commence.

“It is believed that the prosecution is intentionally obstructing the hearing of the variation in order to keep Professor Oloyede locked up in custody until the trial and is therefore denying his basic human right to a fair judicial process.
However, Olatubora said he has right under Section 211 of the 1999 constitution to prosecute case in any courts in the land and that the case of Prof Oloyede would not be any different