A Federal High Court in Abuja has granted bail to a former minister of power, Saleh Mamman at the sum of N10 billion.
In a ruling on Friday, July 12, Justice James Omotosho ordered Mamman to produce two sureties in like sum.
Justice Omotosho said each of the sureties must own a landed property worth N750 million within the jurisdiction of the court.
The judge said he needed not to produce sureties if he could provide a bank guarantee or bond to cover the N10b.
According to the judge, the sureties are to provide evidence of tax payment for three years, while the defendant is to deposit his travel passport
The judge ordered that Mamman is to be further remanded in Kuje prison pe ding when he meets the bail conditions.
Mamman was arraigned on Thursday on a 12-count charge, in which he was among others, accused of laundering about N33.8billion.
In the charge marked: FHC/ABJ/CR/273/2024 filed by the Economic and Financial Crimes Commission (EFCC), the ex-Minister is also alleged to have acquired property, through proxies, with looted funds.
The prosecution is scheduled to commence trial on September 25.
