Alleged N3bn Fraud: Court Grants Yahaya Bello’s Nephew, 3 Others Bail
A Federal High Court, Abuja, on Monday admitted Ali Bello and 3 others to N500 million bail each in their alleged N3 billion fraud trial.
Justice Obiora Egwuatu who granted them bail held that the charges against the defendants were bailable, adding that granting bail is to enable defendants charged with an offense prepare adequately for their trial.
Bello was on February 8, 2023, arraigned alongside Abba Adauda, Yakubu Siyaka Adabenege and Iyadai Sadat, on an 18-count criminal charge before Justice Obiora Egwuatu of the Federal High Court. The defendants pleaded ‘not guilty’ following which Justice Egwuatu ordered their remand at the correctional center.
Delivering his ruling on their bail applications on Monday, Justice Egwuatu held that he was inclined to admit the defendants to bail and granted bail to the defendants in the sum of N500 million each, with two sureties in like sum. The sureties are required to be resident in Abuja, with identifiable address and own landed property worth N500 million within the jurisdiction of the court.
The judge added that the original title documents to the said property must be deposited with the Registrar of the court, as well as evidence of tax payment for three years running from 2020 to 2022.
Besides, the judge held that the defendants are to deposit their international passports with the court and can only travel after due permission from the court.
Subsequently, the matter was adjourned till April 16 for commencement of trial.
