A Federal High Court in Abuja has granted N1 billion bail to the ex-chairman of defunct Pension Reform Task Team, Abdulrasheed Maina, with two sureties in like sum.
Justice Okon Abang ruled on Monday that both sureties must be serving Nigerian Senators with no criminal cases before the court.
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The judge added that both sureties must have fully developed landed property in Maitama or Asokoro district of Abuja.
Maina, who arrived in court on Monday with a walking stick, is charged with 12 counts bordering on money laundering, operating fictitious bank accounts and fraud levelled against him by the Economic and Financial Crimes Commission (EFCC).
Justice Abang also ruled that the sureties must also submit three years tax clearance certificates and must appear at all further court rulings with Maina.
The court also held that the sureties must file an affidavit to show they can pay the penance sum.
Also, the residence of sureties must be in Abuja and will be confirmed by the court.
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Justice Abang stressed that if any surety does not show up for rulings, the court shall be at liberty to revoke bail and the defendant will be remanded accordingly.
He said the defendant is required to submit his American passport, Nigerian passport and diplomatic passport (if any).
