According to the ruling, the sureties had to be the owners of landed properties valued at least N750 million that are located in the Federal Capital Territory, or FCT, in Abuja.
The Federal High Court in Abuja granted bail to Mr. Saleh Mamman, the former Minister of Power, who was remanded in prison custody due to his suspected involvement in a N33 billion scam, on Friday.
The defendant, who is facing a 12-count indictment, was granted bail by the court in an order signed by Justice James Omotosho. The bail amount was N10 billion, with two sureties providing an equivalent amount.
According to the ruling, the sureties had to be the owners of landed properties valued at least N750 million that are located in the Federal Capital Territory, or FCT, in Abuja.
It ordered the sureties to submit their three-year tax clearance certificate and depose to an affidavit of means, adding that both the defendant and the sureties must submit certified copies of their bank statements with their recent passport photographs.
More so, the trial judge ordered the defendant to surrender his international passport to the registrar of the court.
He held that the registrar must verify all the documents before the defendant is released from custody.
In the alternative, the court said the sureties could submit a bank guarantee or bond in the sum of N10bn.
It held that the defendant should remain in prison custody, pending the perfection of all the bail conditions.
The case was subsequently adjourned until September 25 for a hearing.
The former Minister, who pleaded not guilty to the charge the Economic and Financial Crimes Commission, EFCC, preferred against him, had, through his team of lawyers led by Mr. Femi Ate, SAN, begged the court to admit him to bail on liberal terms.
His bail application, dated July 11, was anchored on the provisions of Sections 35 and 36 of the 1999 Constitution, as amended, as well as Sections 158 and 162 of the Administration of Criminal Justice Act, ACJA, 2015.
The defendant told the court that he was on administrative bail for over two years, saying he never violated any of the conditions the anti-graft agency handed to him.
While praying the court to exercise its discretion in his favour, the erstwhile minister said he would always be available for his trial, adding that he had reliable persons that would stand surety for him.
He further assured the court that he would not interfere with or influence any of the witnesses billed to testify against him in the matter.
On its part, the EFCC, through its lawyer, Mr. A. O. Mohammed, said it was not opposed to the defendant’s request for bail.
However, it prayed the court to impose conditions that would warrant the defendant attending his trial.
Mamman, who served in the administration of former President Muhammadu Buhari, was arrested in 2021, about four months after he was removed from office by ex-President Buhari.
EFCC, among other things, alleged that he conspired with staff members of the ministry to divert about N22bn that was meant for the Zungeru and Mambilla Hydro Electric Power projects.
The anti-graft agency said its investigations revealed that the suspects used the funds to acquire choice assets, both within and outside the country.
The defendant had on Thursday, slumped outside the courtroom.