By Abiola Olawale
A Federal High Court sitting in Abuja has granted former Minister of Power, Saleh Mamman a ₦10billion bail application in a 12-count charge bordering on money laundering to the tune of N33,804,830,503.
The Presiding judge, Justice James Omotosho while ruling on the plea of the former minister granted him bail to the tune of ₦10bn and two sureties in like sum.
Justice Omotosho also ruled that the sureties must own properties in Abuja with a minimum value rate of ₦750m.
He added that sureties must submit certified land documents to the court with a three-year tax levy.
Justice Omotosho also held that the defendants shall submit bank statements and international passports to the court.
This development is coming on the heels of the Economic and Financial Crimes Commission (EFCC) arraignment of Mamman on a 12-count charge bordering on money laundering offences.
In the amended charge, the ex-minister is alleged to have laundered over N33 billion and acquired properties through proxies.
Mamman is facing trial on allegations bordering on conspiracy to commit money laundering and illegal possession and use of known proceeds of criminal conduct for personal gains.
According to the charge sheet, the anti-graft agency accused the former power minister of conspiring with other officials of his ministry and some private companies to indirectly convert N33.8bn of funds released for the Mambilla and Zungeru Hydroelectric Power Plant Projects by the Federal Government.
However, the former minister pleaded not guilty to the charges when it was read to him.
