Justice James Omotosho of the Federal High Court Abuja has granted the former minister of power, Saleh Mamman, bail to the tune of ₦10bn and two sureties in like sum.
Delivering a ruling on his bail application this morning July 12, Justice Omotosho held that the sureties must own properties in Abuja with a minimum value rate of ₦750m. Among the bail condition is also that the sureties must submit certified land documents to the court with a three-year tax levy. The court also held that the defendants shall submit bank statements and international passports to the court.
In the alternative, the court held that the defendant can produce a bank guarantee of the said amount and that if that is provided no surety is needed.
The court subsequently adjourned the case to September 25, 2024, for the commencement of the trial.
LIB had reported on Thursday that Mamman was arraigned before the court 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 N33 billion and acquired properties through proxies.
He pleaded not guilty to the charges when it was read to him.
The judge then ordered that he be remanded in Kuje prison in Abuja pending the consideration of his bail application today.