Court Grants Yahaya Bello N500m Bail in N110bn Money Laundering Case
The Federal Capital Territory High Court has granted former Kogi State Governor Yahaya Bello bail in his ongoing N110 billion money laundering trial. Justice Maryanne Anenih set the bail at N500 million, requiring three sureties with properties in Abuja’s prime districts, including Maitama, Jabi, and Asokoro.
The Economic and Financial Crimes Commission (EFCC) charged Bello and two others with 16 counts of money laundering. Bello pleaded not guilty to all charges. Earlier, the court dismissed his first bail application, calling it premature because it was filed before Bello was in custody or brought before the court.
At the hearing, Bello’s lead counsel, Joseph Daudu, SAN, urged the court to grant bail, citing ongoing discussions with the EFCC to ensure a speedy trial. He asked the court to broaden the scope of acceptable properties for sureties, allowing locations across Abuja instead of limiting them to Maitama.
EFCC counsel Olukayode Enitan, SAN, confirmed the talks and assured the court of the prosecution’s cooperation. He left the bail decision to the court’s discretion, stating, “We will not make this contentious as your lordship holds the final decision.”
Justice Anenih ruled that the charges against Bello were bailable and granted his request. She instructed him to surrender his international passport and other travel documents to the court. Bello will remain in Kuje Correctional Centre until he meets the bail conditions.
This high-stakes trial has drawn widespread attention due to the size of the alleged funds involved. Both sides have pledged to cooperate to ensure a swift and fair resolution of the case. The trial continues, with its outcome expected to impact Nigeria’s anti-corruption efforts significantly.