A Federal High
Court in Abuja has granted bail in the sum of N100m to Shamsudeen Bala
Mohammed, a son of a former Minister of the Federal Capital Territory, Mr. Bala
Mohammed Bala.
The defendant
who was on Wednesday remanded in Kuje Prison after he was arraigned on 15
counts of N1.1bn money laundering offences, is to, among other bail conditions,
provide two sureties to enter into N50m bail bond each.
Justice Nnamdi
Dimgba ruled on Friday that the defendant, who was produced in court handcuffed
by prison officials on Friday, should remain in custody pending when he would
meet the bail conditions.
Shamsudeen is
being prosecuted by the Economic and Financial Crimes Commission for allegedly
paying millions of naira on different occasions totalling about N1.1bn for the
purchase of houses without going through financial institutions.
The act was
said to be in breach of Money Laundering (Prohibition) Act. Justice Dimgba on
Friday ordered an accelerated hearing in the case and fixed March 27 and 28 for
commencement of trial.
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