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Respite came the way of Alhaji Ali Bello and three others standing trial over alleged N3 billion fraud in a suit filed against them by the Economic and Financial Crimes Commission (EFCC) as the Federal High Court, Abuja, yesterday granted them bail.
This came after the court rejected EFCC’s counter-affidavit opposing the bail request of the accused, with the judge ruling that the charges against the defendants were bailable. The EFCC, on February 8, 2023, arraigned Bello and Abba Adauda, Yakubu Siyaka Adabenege and Iyadai Sadatnot on an 18-count charge. The defendants pleaded not guilty to the charges.
Ruling in the bail applications, Justice Obiora Egwuatu said he was inclined to admit the defendants to bail and granted the same in the sum of N500 million each, with two sureties in like sum. The judge said the sureties should be resident in Abuja, with identifiable address and own landed property worth N500 million within the jurisdiction of the court.
Justice Egwuatu ordered that the original title documents to the said property must be deposited with the Registrar of the court, as well as evidence of tax payment for three years running from 2020 to 2022. He also ruled that the defendants should deposit their international passports with the court and could only travel after due permission from the court.
The judge adjourned the matter till April 16 for commencement of trial.
A senior advocate, Mr Ahmed Raji, SAN, who had argued the bail applications of the four defendants had observed that the alleged offences were bailable. He submitted that the EFCC had been investigating the defendants in the past one year without any interference from the defendants, while disclosing that the anti-graft agency, on its own, admitted the defendants to administrative bail prior to their arraignment.
Raji stated that EFCC earlier granted one of the defendants permission to travel to Saudi Arabia, revealing that the defendant travelled, returned and surrendered his traveling passport again to the commission.
Counsel to the EFCC, Mr M. K. Husseini, had opposed the request, claiming that if the defendants were admitted to bail, they would tamper with evidence as well as interfere with witnesses.
He also argued that the defendants were likely going to jump bail and not make themselves available for trial.
Justice Egwuatu had announced that ruling in the bail applications would be delivered yesterday, which he did in favour of the defendants,
Bello and the other defendants, were charged with procuring, “E- Traders International Limited to retain the aggregate sum of N3,081,804,654.00, which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit: criminal misappropriation, and you, thereby, committed an offence contrary to sections 18(a), 15(20)(d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.”
They were also charged with procuring, “E-Traders International Limited to transfer the aggregate sum of $570,330 to account number no; 426-6644272 domiciled in TD Bank, United States of America, which sum you reasonably ought to have known forms part of proceeds of unlawful activity to with: criminal misappropriation, and you, thereby, committed an offence contrary to section 15(2)(d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act”, in count three.”
