The Federal High Court, Abuja, on Tuesday varied the bail condition earlier handed to a former Chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina.
Justice Okon Abang reduced Maina’s bail sum from N1billion to N500million.
He also reviewed the aspect of the bail terms that required the defendant to produce two serving Senators to stand surety for him.
Justice Abang varied the condition by allowing the former pension reform chief to only produce one serving Senator that owns a property worth N500million in either Asokoro, Maitama, Wuse II, Central Business District or Katampe districts in Abuja.
The Economic and Financial Crimes Commission (EFCC) arraigned Maina on a 12-count charge of money laundering alongside a firm, Common Input Properties, and Investment Limited.
The defendant had approached the court to review and vary some of the bail conditions imposed on him on November 25, 2019.
According to him, the conditions are too stringent to fulfill.