A Federal High Court in Abuja on Friday granted bail to a former Acting Governor of Adamawa State, Umaru Fintiri, who was remanded in Kuje Prison on Thursday, in the sum of N500m.
Justice Ahmed Mohammed in his ruling, held that the bail should be guaranteed by two sureties in the sum of N500m each.
This followed Fintiri’s arraignment by the Economic and Financial Crimes Commission on five counts of money laundering involving about N1.9bn alleged proceeds of corruption on Thursday.
The EFCC had on Thursday arraigned Fintiri along with Mayim Constructions and Properties Limited (the second defendant).
Shortly after Fintiri pleaded not guilty to the charges on Thursday the trial judge, Justice Mohammed, heard his bail application but remanded him in Kuje Prison to await the court’s ruling on the bail application on Friday.
Ruling on the bail application on Friday, Justice Ahmed dismissed the objection by the prosecution to the bail application, noting that it failed to show reasonable cause why the defendant should not be granted bail.
The judge rejected the claim of the prosecution counsel, Mr. peters Aso, who had alleged that the accused would likely jump bail.
The judge held that the claim by prosecution did not hold water as the defendant did not jump the administrative bail granted him by the EFCC before his arraignment.
Other conditions attached to the bail included the seizure of his passport by the court pending the period of his trial and so would not be allowed to travel abroad without the permission of the court.
The court also ordered that each of the two sureties to be produced by the defendant
must have proofs of ownership of property in Abuja.
The sureties were also to deposit title deeds of the property with the court alongside two recent passport photographs.
The judge fixed October 6 for commencement of trial.
