The Federal High Court, Abuja, on Monday, granted bail to the former Chairman of Pension Reform Task Team, Abdulrasheed Maina, who is standing trial for fraud and money laundering.
Justice Okon Abang granted the defendant bail in the sum of N1billion and directed him to produce two sureties in the sum of N500 million each.
The judge stressed that the sureties must be serving Senators from any of the six geopolitical zones in the country and must be without pending criminal cases.
According to him, the sureties must have fully developed landed properties in either Maitama or Asokoro Districts of the Federal Capital Territory.
He said the sureties must be resident in Abuja and must accompany the defendant to court on every trial date, adding that they must submit their three years tax clearance certificate for verification.
Besides, the judge directed the sureties to file an affidavit to show that they are capable of paying any penance should the defendant jump bail.
He ordered Maina to surrender all his diplomatic and international passports, warning that the court would be at liberty to revoke his bail whenever it notices a breach of any of the conditions.
He subsequently adjourned the matter till November 26 for the continuation of trial.
Justice Abang gave the ruling on a day he received a report from Nigeria Correctional Service Center, Kuje, confirming that the defendant is medically fit to face his trial.
The ex-pension boss is arraigned by the Economic and Financial Crimes Commission (EFCC) on a 12-count charge of fraud and money laundering alongside a firm, Common Input Properties and Investment Limited.
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