Ex-minister granted N10bn bail over alleged N33bn fraud

Former Minister of Power, Mr Saleh Mamman, was on Friday granted a N10bn bail by the Federal High Court in Abuja over his N33bn money laundering trial.

In a ruling delivered by Justice James Omotosho, the court also held that the former minister must provide two sureties in the like sum, and they must have landed properties within the Federal Capital Territory with a minimum valuation of N750m.

The court said the sureties must submit their three-year tax clearance certificate and depose to an affidavit of means.

It also ruled that both the defendant and the sureties must submit certified copies of their bank statements with their recent passport photographs.

In the alternative, the court said the sureties could submit a bank guarantee or bond in the sum of N10bn.

The court further ordered the defendant to surrender his international passport to the Registrar of the court.

Justice Omotosho said the Registrar must verify all the documents before the defendant is released from custody.

He also ordered that the defendant should remain in prison custody, pending the perfection of all the bail conditions.

The court adjourned the matter till September 25 for hearing.

Recall that on Thursday after Mamman had taken his plea, his counsel, Femi Ate (SAN), informed the court that a bail application had been filed but Justice Omotosho said the case wasn’t yet in the court file and proceeded to remand the former minister in prison custody during the Friday hearing.

Meanwhile, Mamman pleaded not guilty to the entire 12-count charge preferred against him by the Economic and Financial Crimes Commission, after it was read to him.

Mamman’s bail application, dated July 11, was hinged on the provisions of Sections 35 and 36 of the 1999 Constitution, as amended, as well as sections 158 and 162 of the Administration of Criminal Justice Act, ACJA, 2015.

The defendant told the court that he was on administrative bail for over two years, saying he never violated any of the conditions the anti-graft agency handed to him.

He prayed the court to exercise its discretion in his favour, promising to always be available for his trial.

Mamman, who served in the administration of former President Muhammadu Buhari, was arrested in 2021, about four months after he was removed from office.

EFCC, among other things, alleged that he conspired with staff members of the ministry to divert about N22bn that was meant for the Zungeru and Mambilla Hydro Electric Power projects.

The anti-graft agency said its investigations revealed that the suspects used the funds to acquire choice assets, both within and outside the country.