Embattled chairman of the former Pension Reform Task Team, Abdulrasheed Maina, has been granted bail; to the tune of N1 billion by an Abuja Federal High Court.
Justice Okon Abang granted Maina bail on compassionate grounds following an application by Ahmed Raji, his lawyer.
Maina is to provide sureties with N500 million each. The sureties must have landed properties fully developed in Asokoro or Maitama, in Abuja. They must be serving senators with no criminal case in court.
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The sureties must show evidence of tax clearance for three years.
The judge also ordered Maina to deposit all his travel passports, including American, Nigerian and diplomatic passport.
Maina is standing trial on alleged money laundering charge to the tune of over N2 billion preferred against him by the Economic and Financial Crimes Commission (EFCC).
The anti-graft agency had, on October 25, arraigned Maina alongside his firm, Common Input Property and Investment Ltd, before Abang.
Though he pleaded not guilty to the 12-count charge, his trial has not made meaningful progress due to his “failing health”.
