N3bn fraud: Court grants Yahaya Bello’s nephew, others N500m bail each

The Federal High Court, Abuja on Monday adjourned the N3 billion fraud trial of Ali Bello, nephew of Kogi State governor, Yahaya Bello and three others till April 16.

Justice Obiora Egwuatu adjourned hearing in the case after ruling on the defendants’ bail applications, the Economic and Financial Crimes Commission (EFCC) said in a statement obtained by The Herald.

The court granted the defendants bail in the sum of N500 million each and two sureties in like sum.

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

They are to further provide evidence of tax payment from 2020 to 2022 and deposit the original title documents in respect of the property with the Registrar of the court.

In addition, the defendants are to deposit their international passports with the court and must obtain the permission of the court to travel outside the jurisdiction.

Bello was on February 8 arraigned by the EFCC alongside Abba Adauda, Yakubu Siyaka Adabenege, Iyadai Sadat and Rashida Bello (at large) on 18-counts of criminal misappropriation and money laundering to the tune of N3,081,804,654.00.