The Federal High Court sitting in Abuja on Friday, granted bail to former Minister of Power, Saleh Mamman, in the sum of ₦10 billion.
Mamman, who is facing a 12-count charge of alleged involvement in a ₦33 billion fraud, was previously remanded in Kuje prison.
Delivering judgement on the case, Justice James Omotosho, ruled that the defendant must produce two sureties owning landed properties worth at least ₦750 million each within the Federal Capital Territory (FCT), Abuja.
The sureties are also required to present a three-year tax clearance certificate and swear an affidavit of means, alongside submitting their recent bank statements and passport photographs.
Further tightening the bail conditions, Justice Omotosho directed that Mr Mamman surrender his international passport to the court’s registrar, who must verify all documents before his release from custody.
Alternatively, the court allowed for a bank guarantee or bond of ₦10 billion if suitable sureties were not forthcoming.
The trial has been adjourned to September 25, as the court awaits the perfection of the bail conditions.
During his plea for bail, Mr Mamman, through his lead counsel Mr Femi Ate, SAN, argued that his continued detention was unnecessary given his compliance with previous administrative bail terms set by the Economic and Financial Crimes Commission (EFCC) over 2 years ago.
He assured the court of his presence at all future hearings and non-interference with witnesses.
Responding, the EFCC’s lawyer, Mr A.O. Mohammed, did not oppose the bail request but emphasized the necessity of ensuring Mr Mamman’s attendance at his trial.
The allegations against Mr Mamman involve the misappropriation of ₦22 billion earmarked for the Zungeru and Mambilla Hydro Electric Power projects.
The funds were allegedly diverted to acquire assets domestically and internationally.