THE Federal High Court, Abuja, on Monday, February 20, admitted Ali Bello, a cousin to Kogi State governor Yahaya Bello, and three others to bail in the total sum of N2 billion.
Bello and the others, namely Abba Adauda, Yakubu Siyaka Adabenege and Iyadai Sadat are being prosecuted by the Economic and Financial Crimes Commission (EFCC) over an alleged N3 billion fraud.
Ruling on the bail application filed by the accused persons, JusticeObiora Egwuatu, the presiding judge, ruled that the offences brought against the defendants are bailable.
The ICIR reported in December 2022 that the EFCC arraigned Bello before a Federal High Court in Abuja in December 2022.
He was arraigned alongside one Dauda Suleiman on a 10-count charge of alleged misappropriation and money laundering before Justice James Omotosho.
The court ordered that they be remanded in prison pending the fulfilment of their bail conditions.
The case was then adjourned till February 6, 2023.
On February 8, they were re-arraigned on an 18-count before Justice Egwuatu of the Federal High Court, Abuja.
The defendants were charged with procuring E- Traders International Limited to retain the aggregate sum of N3.1 billion, among other allegations.
Ruling on the bail application on Monday, Justice Egwuatu granted the defendants bail in the sum of N500 million each, with two sureties in like sum.
According to the Justice, the sureties must reside in Abuja, with identifiable addresses.
Additionally, the judge ruled that the sureties must possess N500 million worth of land located within the court’s jurisdiction, and the original title documents for that land must be placed with the court’s registrar along with documentation of tax payments for the three years between 2020 and 2022.
The judge further decreed that the defendants must leave their international passports in the court’s custody and may only leave the country with the proper authorisation from the court.
Subsequently, the matter was adjourned to April 16 for the commencement of trial.