Court grants Yahaya Bello N500m bail in alleged N80b fraud case
The Federal High Court sitting in Abuja, on Friday, granted bail to the embattled former governor of Kogi State, Yahaya Bello, in the sum of N500 million with two sureties in the like sum.
Trial judge Justice Emeka Nwite, who granted the bail application, held that the sureties must be owners of landed properties in Abuja.
Bello was arraigned on a 19-count money laundering charges to the tune of N80 billion instituted against him by the Economic and Financial Crimes Commission (EFCC).
At the resumed hearing, the presiding judge ordered that the former governor must produce two sureties in like sum who must swear to an affidavit of means and must be owners of properties in Abuja
Justice Nwite also ordered that Bello must deposit his international passport with the court, while he and the two sureties are also to deposit two recent passport photographs with the court while the title documents of the properties, which must be in Abuja, must be verified by the Deputy Chief Registrar of the court.
Justice Nwite also ruled that Bello be remanded in the Kuje Correctional Center in Abuja pending the perfection of his bail conditions.
The EFCC had arraigned Bello and two others on charges of conspiring in February 2016 to convert N80,246,470,088.88, allegedly obtained through a criminal breach of trust, in violation of Section 18(a) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011, as amended.
At the sitting on Friday, EFCC counsel, Kemi Pinheiro, (SAN), urged Justice Nwite to approve the reading of the charges to Bello, an application that was not opposed by Bello’s lawyer, Joseph Daudu (SAN).
When the charges were read to him, the ex-governor pleaded not guilty to all the 19 charges as read to him by the registrar.
In seeking bail for his client, Daudu asked the court to note that the defendant, as a two-term governor of his state, had only traveled abroad twice and pledged that Bello would be in court throughout the trial and would not jump bail.
While ruling on the submissions of the lawyers, Nwite acknowledged that a bail is the constitutional right of the defendant.
“I hereby grant bail to the defendant in the sum of N500 million and two sureties in like sum who must possess landed property in Abuja,” Justice Nwite ruled.
He thereafter adjourned the case to February 24, 28, 2025, and March 6 and 7 for trial.
