The Federal High Court, Abuja, on Monday, granted Ali Bello, nephew of Kogi State governor, Yahaya Bello and three others, facing N3 billion fraud trial, bail in the sum of N500 million each and two sureties in like sum.
Justice Obiora Egwuatu noted that the sureties must reside in Abuja, with identifiable addresses and own landed property worth N500 million within the jurisdiction of the court.
The sureties are to further provide evidence of tax payments from 2020 to 20222 and deposit the original title documents in respect of the property with the Registrar of the court.
In addition, the defendants are to deposit their international passports with the court and must obtain the permission of the court to travel outside the jurisdiction.
The judge then adjourned the N3 billion fraud trial to April 16.
Back story
Bello was on February 8, arraigned by the EFCC alongside Abba Adauda, Yakubu Siyaka Adabenege, Iyadai Sadat and Rashida Bello ( at large) on 18-counts of criminal misappropriation and money laundering to the tune of N3,081,804,654.00( Three Billion, Eighty-One Million, Eight Hundred and Four Thousand, Six Hundred and Fifty-Four Naira).
Count one of the charges reads “That you, ALI BELLO, ABBA ADAUDU, YAKUBU SIYAKA ADABENEGE, IYADA SADAT, RASHIDA BELLO (at large) sometime in June 2020 in Abuja within the jurisdiction of this Honourable Court procured E- Traders International Limited to retain the aggregate sum of N3,081,804,654.00 (Three Billion, Eighty-One Million, Eight Hundred and Four Thousand, Six Hundred and Fifty-Four Naira) 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”.
Count 3 reads, “That you, ALI BELLO, ABBA ADAUDU, RASHIDA BELLO (at large) sometime in November 2021 in Abuja within the jurisdiction of this Honorable Court procured E-Traders International Limited to transfer the aggregate sum of $570,330 (Five Hundred and Seventy Thousand, Three Hundred and Thirty United States Dollars) 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”.
Count 17 reads, “That you, ALI BELLO, ABBA ADAUDU, RASHIDA BELLO(at large) between 26th July, 2021-6th April 2022 in Abuja within the jurisdiction of this Honourable Court procured E-Traders International Limited to remove from the jurisdiction of the Honourable Court to account no. 426-664-4272 domiciled in TD Bank, United States of America, the aggregate sum of $570,330 (Five Hundred and Seventy Thousand, Three Hundred and Thirty United States Dollars) which sum you reasonably ought to have known forms part of the proceeds of unlawful activity to wit; criminal misappropriation, and you thereby committed an offence contrary to section 15(2) ( c ) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 ( 3 )of the same Act.”
Count 18 reads, “That you, ALI BELLO, ABBA ADAUDU, RASHIDA BELLO(at large) between 26th July 2021 -6th April 2022 in Abuja within the jurisdiction of this Honourable Court procured E-Traders International Limited to remove from the jurisdiction of the Honourable Court to account no. 426-664-4272 domiciled in TD Bank, United States of America, the aggregate sum of $845,852.84 (Eight Hundred and Forty-five Thousand, Eight Hundred and Fifty-two United States Dollars) which sum you reasonably ought to have known forms part of the proceeds of unlawful activity to wit; criminal misappropriation, and you thereby committed an offence contrary to section 15(2)(c ) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 ( 3 ) of the same Act.”
