The Federal High Court in Abuja has granted bail to former Kogi State Governor Yahaya Bello, setting the amount at ₦500 million.
Presiding over the session on Friday, Justice Emeka Nwite stipulated that Bello must present two sureties of equal financial standing.
The sureties are required to swear an affidavit of means and must own properties located in Abuja. The title documents of these properties will be verified by the Deputy Chief Registrar of the court.
Additionally, Bello must surrender his international passport to the court. Both he and his sureties are to submit two recent passport photographs as part of the bail requirements.
Until the bail conditions are met, the court has ordered Bello to be remanded in the Kuje Correctional Center in Abuja.
Bello has pleaded not guilty to allegations of ₦80 billion fraud brought against him by the Economic and Financial Crimes Commission (EFCC).
The EFCC had arraigned Bello on a 19-count charge related to alleged money laundering. During the hearing, EFCC counsel Kemi Pinheiro, SAN, informed the court of the withdrawal of an earlier application to fast-track the arraignment date, stating that the matter had been overtaken by events.
Counsel to the defendants, Joseph Daudu, SAN, did not object to this and Justice Emeka Nwite, accordingly granted the request, striking out the application.
The ex-governor was earlier remanded in a fresh ₦110 billion charge by the EFCC, pending his bail application.
The case was adjourned to February 24 for the continuation of hearing.