Ali Bello, who is the nephew of Yahaya Bello, the governor of Kogi, has been granted bail by a federal high court in Abuja.
The presiding judge, Obiora Egwuatu, ruled on the bail application on Monday, stating that the offences charged against Bello and his co-defendants are bailable. The judge further stated that bail would enable the defendants to adequately prepare for their upcoming trial.
The defendants were granted bail in the amount of N500 million each, with two sureties who must reside in Abuja and own landed properties worth N500 million within the jurisdiction of the court.
Additionally, the sureties must have identifiable addresses, deposit the original title documents of their properties with the registrar of the court, and provide evidence of tax payment for the years 2020 to 2022.
The defendants are also required to deposit their international passports with the court and can only travel after obtaining due permission from the court. The trial has been adjourned to April 16.
On February 8, the Economic and Financial Crimes Commission (EFCC) 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 of criminal misappropriation and money laundering. They were remanded in prison until the bail application was moved.
Rashida Bello, who is Yahaya Bello’s wife, was also mentioned in the charge.
