Ex-chairman of defunct Pension Reform Task Team, Abdulrasheed Maina was on Monday in Abuja admitted to a N1billion bail, with two sureties in like sum.
In another case, the absence of Justice Nicholas Oweibo of the Federal High Court in Lagos on Monday, stalled the N1.2 billion fraud trial of a former chairman of the Independent National Electoral Commission (INEC), Prof. Maurice Iwu.
Iwu
Justice Okon Abang of the Federal High court, Abuja ruled on Monday ruled that both sureties in the Maina case must be serving Nigerian Senators with no criminal cases before the court.
The judge added that both sureties must have fully developed landed property in Maitama or Asokoro district of Abuja.
Maina, who arrived in court on Monday with a walking stick, is charged with 12 counts bordering on money laundering, operating fictitious bank accounts and fraud levelled against him by the Economic and Financial Crimes Commission (EFCC).
Justice Abang also ruled that the sureties must also submit three years tax clearance certificates and must appear at all further court rulings with Maina.
The court also held that the sureties must file an affidavit to show they can pay the penance sum.
Also, the residence of sureties must be in Abuja and will be confirmed by the court.
Justice Abang stressed that if any surety does not show up for rulings, the court shall be at liberty to revoke bail and the defendant will be remanded accordingly.
He said the defendant is required to submit his American passport, Nigerian passport and diplomatic passport (if any).
In Lagos, Justice Oweibo of the Federal High Court in Lagos was not in court on Monday, hence Iwu’s trial did not take place.
Iwu is charged with three counts of fraud and money laundering brought against him by the Economic and Financial Crimes Commission (EFCC).
The former INEC boss was first arraigned on August 8 before Justice Chuka Obiozor, also of the Federal High Court in Lagos, who granted him bail of N1 billion.
Iwu, however, maintained his earlier stance by pleading not guilty.
Justice Oweibo permitted him to continue on the N1 billion bail earlier granted him by Justice Obiozor.
The case has now been adjourned till February 27, 2020.
EFCC alleges that Iwu committed the offences from December 2014 to March 27, 2015.
“The defendant aided the concealment of N1.23 billion in the account of Bioresources Institute of Nigeria Ltd. with number 1018603119, domiciled in the United Bank for Africa.
“He ought to have reasonably known that the N1.23 billion formed part of the proceeds of fraud,” EFCC’s lead counsel, Rotimi Oyedepo, said.
The alleged offences contravene Sections 15(2) and 18(a) of the Money Laundering (Prohibition) Act, 2011, and is punishable under Section 15(3) of the Act.