Court grants Yahaya Bello ₦500m bail in alleged ₦80bn fraud case
The Federal High Court in Abuja has granted bail to the former Governor of Kogi State, Yahaya Bello, in the sum of ₦500 million.
Bello, who is facing a 19-count charge of alleged money laundering amounting to ₦80 billion, pleaded not guilty during his arraignment by the Economic and Financial Crimes Commission (EFCC).
Justice Emeka Nwite, who presided over the hearing, stipulated that Bello must provide two sureties of equal value. The sureties are required to swear an affidavit of means and own properties within Abuja, with title documents to be verified by the court’s Deputy Chief Registrar.
The court also ordered Bello to deposit his international passport along with two recent passport photographs, both from him and his sureties. He will remain in custody at Kuje Correctional Centre in Abuja until his bail conditions are met.
Counsel for the EFCC, Kemi Pinheiro, SAN, withdrew an earlier application to expedite the arraignment, stating that it had been overtaken by events.
READ ALSO: Alleged Fraud: Court remands Yahaya Bello in Kuje Prison, adjourns case
The defense counsel, Joseph Daudu, SAN, raised no objection, leading the court to strike out the application.
This case continues to draw significant attention as it involves one of the largest alleged fraud cases against a former public official in Nigeria. Further proceedings are expected in the coming weeks.
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