Justice James Kolawole Omotosho of the Federal High Court in Abuja has imposed a hefty N10 billion bail bond on Saleh Mamman, the former Minister of Power, in connection with N33 billion money laundering charges leveled against him by the federal government.
The ruling, delivered on Friday, mandates the bail bond to be backed by a reputable Nigerian bank. Failure to comply could result in forfeiture of the entire sum to the federal government should Mamman evade trial.
READ ALSO: Alleged ₦33.8B Fraud: Court Orders Former Minister of Power Saleh Mamman to Prison
The bail application, argued by Senior Advocate of Nigeria (SAN) Femi Ate on behalf of Mamman, also offered an alternative where the defendant must provide two sureties, each with assets valued at a minimum of N750 million within Abuja. These assets must have verifiable titles registered with the court registrar, accompanied by evidence of three years of tax payments.
Additionally, Mamman and his sureties are required to deposit their international passports with the court and are prohibited from traveling outside the country without court approval.
Pending the fulfillment of these bail conditions, Justice Omotosho ordered Mamman to be remanded in Kuje prison.
RELATED: Former Minister Saleh Mamman Collapses Outside Courtroom as Money Laundering Case Commences
The charges against Mamman, filed by the Economic and Financial Crimes Commission (EFCC) on behalf of the federal government, include 12 counts of money laundering. Mamman, who served under former President Buhari from 2019 to 2021, pleaded not guilty to these charges during his arraignment on July 11.
As Mamman and his associates strive to meet these stringent bail conditions, the case continues to draw significant attention.
