Justice James Omotosho of the Federal High Court in Abuja has granted bail to the former Minister of Power, Saleh Mamman, in the amount of ₦10 billion, with two sureties in like sum.
While ruling on a bail application by the defendant, Justice Omotosho held that the sureties must own properties in Abuja with a minimum value of ₦750 million.
The court also required that sureties submit certified land documents to the court along with a three-year tax levy.
Additionally, the court mandated that the defendants submit bank statements and international passports to the court.
Alternatively, the court held that the defendant can produce a bank guarantee of the said amount, in which case no surety is needed.
The court subsequently adjourned the case to September 25, 2024, for the commencement of the trial.
The development follows Justice Omotosho’s order on Thursday for Mamman to be remanded in Kuje prison in Abuja pending the consideration of his bail application.
Justice Omotosho issued the order after Mamman was arraigned on a 12-count charge bordering on money laundering offences brought against him by the Economic and Financial Crimes Commission (EFCC).
In the amended charge, the ex-minister is alleged to have laundered over ₦33 billion and acquired properties through proxies.
He pleaded not guilty to the charges when it was read to him.
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