Politics
ALLEGED N1.1bn FRAUD: Ex-FCT Minister’s son gets N100m bail
Shamsudeen Bala, son of ex-FCT Minister, Mohammed Bala, has finally secured a N100million bail in the case of an alleged N1.1billion fraud perpetrated by him.
The accused was on Wednesday remanded in prison at Kuje by Justice Nnamdi Dimgba after he had pleaded not guilty to a 15-count criminal charge the Economic and Financial Crimes Commission (EFCC) preferred against him.
EFCC, led by its lawyer, Ben Ikani, had opposed Bala’s application for bail on Wednesday on grounds that the defendant planned to escape from the country once out of detention. It also told the court that the ex-Minister’s son blatantly refused to surrender his international passport to the EFCC.
However, ruling on the application on Friday, Justice Dimgba said he was minded to grant the plea considering that allegations against the defendant are bailable offences.
The court stressed that the defendant must produce two reasonable sureties to enter into N50m bail bond each, even as it fixed March 27 and 28 for commencement of trial.
EFCC had on December 2, 2016 filed a 15-count charge involving alleged N1.1billion fraud against the former minister’s son.
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He was charged along with four other companies which are Bird Trust Argo Limited, Diakin Telecommunications Limited, Intertrans Global Logistics Limited and Bal-Vac Mining Nigeria Limited.
In the case which involved the sum of N1, 105,719,005, the EFCC is accusing the defendants of money laundering and falsification of assets.
The anti-graft agency is also alleging that the former minister’s son carried out business transactions amounting to billions of naira in violation of Money Laundering Act. It added that he paid various cash sums of money above the limit set by the Money Laundering Act for purchase of properties without going through a financial institution.
EFCC further accused him of not declaring his assets when he completed the EFCC Asset Declaration Form A and that he concealed four of his accounts domiciled at Standard Chartered Bank.
The commission gave the account numbers as 0001857597, 5001214708, 0000895037 and 000895020.
Shamsudeen arrived the Abuja court on Friday in hand-cuffs.
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seyi jelili
February 3, 2017 at 4:35 pm
#1.1 bn is not a small money to steal. Am sure his father abetted the boy to do so. Thank God we are recovering much money to the 18bn we have recovered already. Pdp wrecked Nigeria a great deal.
Johnson Amadi
February 3, 2017 at 4:41 pm
Corruption will never end in Nigeria, he stole N1.1bn and court granted him N100 million bail, that’s even less than 10 percent of the money he stole. How is this a just case?
Amarachi Okoye
February 3, 2017 at 11:28 pm
You still reason like a child when you know that the country you are into is full of bribing and corruption so anything can happen
Margret Dickson
February 3, 2017 at 4:55 pm
Prison is meant for criminals, why is he not there yet. I hate to read how courts grant criminals bail, no matter the amount of money they pay as bail, they will still carry out another criminal act. Shame on Nigeria’s judicial system
Roland Uchendu Pele
February 3, 2017 at 7:52 pm
It is the same Judicial people that claim to be learned. They have a way of trampling on their senses and playing with our intelligence.
Nonso Ezeugo
February 3, 2017 at 11:23 pm
That is there own way of surviving because without intelligence they will not survive
Joy Madu
February 3, 2017 at 11:34 pm
Shame because they deserve it
JOHNSON PETER
February 3, 2017 at 5:03 pm
How is that a bailable offence? The judge is a northern man so am sure Bala Mohammed, the father has bribed him to grant bail of such meagre money compare to what he laundered.
This is why buhari is warring against the judiciary, they won’t budge on desisting from corrupt practices and unfair justice.
Balarabe musa
February 3, 2017 at 5:08 pm
You started well but along the lines, you allowed stupidity to becloud your sense of reasoning. As far Nigeria is concerned, the fearless and just Justices or Judges are from the north unlike the Yoruba and Igbo Judges who give unfair justice because of money.
The judge has not delivered the judgement yet, he only said it is a bailable offence, so granting bail is different from he has been discharged and acquitted from the case.
Common sense!.