‘N3bn fraud’: Court grants Yahaya Bello’s nephew N500m bail

A federal high court in Abuja has granted bail to Ali Bello, nephew to Yahaya Bello, governor of Kogi.

Ruling on the bail application on Monday, Obiora Egwuatu, the presiding judge, held that the offences against Bello and his co-defendants are bailable.

He said bail would enable the defendants to adequately prepare for their trial.

The defendants were admitted to bail in the sum of N500 million each with two sureties in like sum.

The judge ruled that the sureties must reside in Abuja, with identifiable addresses, and own landed properties worth N500 million within the jurisdiction of the court.

He said the original title documents of the properties must be deposited with the registrar of the court, as well as evidence of tax payment for three years between 2020 to 2022.

The defendants are also to deposit their international passports with the court and can only travel after due permission from the court.

The matter has been adjourned to April 16 for the commencement of trial.

The EFCC, on February 8, arraigned Bello alongside Abba Adauda, Yakubu Siyaka Adabenege, and Iyada Sadat for allegedly misappropriating N3,081,804,654.

The defendants pleaded not guilty to the 18-count charge “bordering on criminal misappropriation and money laundering”.

They were remanded in prison pending when the bail application is moved.

Rashida, Yahaya Bello’s wife, was also mentioned in the charge.