Court Grants Yahaya Bello ₦500m Bail Over ‘₦80bn Fraud’

Presiding over the case on Friday, Justice Emeka Nwite ordered that Bello must provide two sureties, each with a like sum of ₦500 million.

These sureties are required to swear to an affidavit of means and must own properties within Abuja.

Additionally, the title documents of these properties will be verified by the Deputy Chief Registrar of the court.

The court also directed that Bello deposit his international passport with the court and submit two recent passport-sized photographs, along with those of his sureties.

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Until the conditions for his bail are met, Justice Nwite ordered that Bello be remanded at the Kuje Correctional Center in Abuja.

Bello, who faces charges of an alleged ₦80 billion fraud, has pleaded not guilty to the accusations of money laundering brought against him by the Economic and Financial Crimes Commission (EFCC).

At the continuation of the proceedings, EFCC counsel Kemi Pinheiro, SAN, informed the court of his intention to withdraw an earlier application for the abridgment of the arraignment date.

He explained that the application had been overtaken by events.

The defendant’s counsel, Joseph Daudu, SAN, did not object, and Justice Nwite granted the request, striking out the application.