Maina: Court grants ex-pension boss N1bn bail

Maina: Court grants ex-pension boss N1bn bail

- Court has granted Abdulrasheed Maina N1 billion bail

- Maina is standing trial over alleged money laundering

- The former pension boss was arraigned by the EFCC on October 25

A Federal High Court sitting in Abuja on Monday, November 25, granted bail to the former chairman of the defunct pension reform task team, Abdulrasheed Maina, in the sum of one billion naira with two sureties in like sum.

The Nation reports that the ex-pension reform boss, who is standing trial on alleged money laundering charge to the tune of over N2 billion levelled against him by the Economic and Financial Crime Commission (EFCC), had arrived at the court with the aid of a walking stick.

Legit.ng gathered that the EFCC had on October 25, arraigned Maina alongside his firm, Common Input Property and Investment Ltd, before Justice Abang.

It was learnt that both sureties must be serving Nigerian senators with no criminal cases before the court.

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The sureties must also have fully developed landed property in Maitama or Asokoro district of Abuja.

According to the court ruling, the sureties must also submit three years tax clearance certificates and must appear at all further court rulings with the first defendant.

The court also noted that the sureties must file an affidavit to show they can pay the penance sum.

It was also stipulated in the ruling that the residence of sureties must be in Abuja and would be confirmed by the court.

The trial judge, Justice Okon Abang, in his ruling, stressed that if any surety does not show up for proceedings, the court would be at liberty to revoke bail and the defendant would be remanded accordingly.

He said the defendant was required to submit his American passport, Nigerian passport and diplomatic passport if any.

Meanwhile, Legit.ng had previously reported that the family of Maina claimed that his health condition was deteriorating.

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It was reported that the family said that Maina's blood pressure at the morning of Tuesday, November 12, read 196/130.

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They alleged that his condition was so bad that he could not stand or walk on his own unless supported by two people, one on each side.

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Source: Legit.ng

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