The Federal High Court in Abuja has granted former Kogi State Governor, Yahaya Bello, bail in the sum of ₦500 million following his arraignment by the Economic and Financial Crimes Commission (EFCC) on 16-count charges of money laundering.
Justice Emeka Nwite issued the bail ruling on Friday after Bello pleaded not guilty to the allegations brought against him by the EFCC.
The charges stem from accusations that Bello and his co-defendants conspired in February 2016 to convert ₦80,246,470,088.88 obtained through a criminal breach of trust. This act, according to the EFCC, violates Section 18(a) and is punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011, as amended.
The court also imposed conditions for Bello’s bail to ensure his compliance with the legal process while the case proceeds.
