Fraud

Money laundering: Federal High Court grants former minister, four others N250m bail

A Federal High Court sitting in Damaturu, Yobe, on Tuesday granted bail to former Minister of Science and Technology, Dr Abdu Bulama and four others in a case of alleged money laundering.
The Economic and Financial Crimes Commission (EFCC) dragged the former minister along with former Yobe Peoples’ Democratic Party (PDP), Chairman, Abbagana Tata, Mohammed Kadai, Alhaji Hassan Ibn Jaks and Muhammad Mamu, all chieftains of PDP, before the court for money laundering.

The court, presided by Justice Isa Hamadashin, granted N50 million bail to each of the defendants with two sureties each who must either be businessmen or civil servants who must be at least a director.

“The sureties must be resident within the court’s jurisdiction and, must possess landed property in Damaturu.

“The defendants are to deposit their passports and not allowed to travel outside the country without permission of the court,’’ the court ordered

The EFCC presented a seven count charge before the court accusing the defendants of money laundering.

The anti-graft agency claimed that they committed the offence contrary to and punishable under Sections 16(1)(d) and 16(2)(b) of the money laundering prohibition act 2011, as amended.

The defendants were remanded in EFCC custody last Friday until the determination of application for their bail on Tuesday.

 

(NAN)

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