Justice Maryanne Anenih of the Federal Capital Territory High Court has granted bail to former Kogi State Governor Yahaya Bello in the sum of ₦500 million, with three sureties of equal value. This decision follows her earlier rejection of Bello’s bail application on December 10, which she ruled was premature as it was filed before he was in custody or appeared in court.

Bello is currently on trial for alleged money laundering involving ₦110 billion, alongside two co-defendants. He pleaded not guilty to the 16 charges leveled against him by the Economic and Financial Crimes Commission (EFCC).

During the latest court session, Bello’s lead counsel, Joseph Daudu, SAN, withdrew a further affidavit in response to a counter affidavit from the prosecution, aiming to avoid unnecessary contention. The prosecution, represented by Olukayode Enitan, SAN, did not oppose the withdrawal, leading the court to strike out the document.

Daudu informed the court that discussions between the defense and prosecution teams had yielded an agreement to expedite the trial. He urged the court to grant Bello’s bail request and appealed for a review of the bail conditions to allow sureties to present properties located anywhere within the Federal Capital Territory (FCT), rather than being restricted to Maitama.

Enitan confirmed the prosecution’s cooperation, emphasizing that the decision to grant bail ultimately rested on the court’s discretion. He assured the court that the prosecution would not oppose the process in a way that could delay justice.

In her ruling, Justice Anenih noted that the charges against Bello were bailable and set his bail at ₦500 million. The conditions include three sureties who must be prominent Nigerians owning landed property in areas such as Maitama, Jabi, Utako, Apo, Guzape, Garki, or Asokoro. Bello is also required to surrender his international passport and other travel documents to the court. Until he meets the bail conditions, he will remain in custody at the Kuje Correctional Centre.

President Bola Tinubu has presented the 2025 budget proposal of N47.9 trillion to a joint session of the National Assembly. Lawmakers from the House of Representatives and the Senate convened on Wednesday to receive the President's second budget submission since taking office.

The President was accompanied by the Secretary to the Government of the Federation, George Akume; the Chief of Staff, Femi Gbajabiamila; and other top government officials. The presentation, initially scheduled for Tuesday, was rescheduled to Wednesday following a Federal Executive Council (FEC) meeting on Monday at the Presidential Villa in Abuja. During the meeting, the FEC approved the proposed budget for the upcoming fiscal year.

The Minister of Budget and National Planning, Atiku Bagudu, highlighted key details of the 2025 budget proposal. The expenditure is projected at ₦47.96 trillion, representing a 36.8% increase compared to the 2024 budget. The 2025 Appropriation Bill is based on an oil price benchmark of $75 per barrel, daily oil production of 2.06 million barrels, and an exchange rate of ₦1,400 to the dollar.

The budget presentation underscores the administration’s commitment to addressing economic challenges and setting the country on a sustainable development path.