The Federal High Court sitting in Abuja yesterday, reduced the bail condition it earlier granted to former Chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina, who is facing a money laundering charge.
The trial judge, Justice Okon Abang, in a ruling on the application for variation, reduced Maina’s bail sum from N1 billion to N500 million.
It also reviewed the aspect of the bail terms that required the defendant to produce two serving senators to stand surety for him.
Justice Abang varied the condition by allowing the former pension reform boss to only produce one serving senator that ownsed a property worth N500 million in either Asokoro, Maitama, Wuse II, Central Business District or Katampe Districts in Abuja.
Maina, who was answering to 12-count charge the Economic and Financial Crimes Commission (EFCC) preferred against him and a firm, Common Input Properties and Investment Limited, had approached the court to review and vary some of the bail conditions it imposed on him on November 25, 2019, insisting that he found them too stringent to fulfil.
The court had aside admitting him to bail to the tune of N1 billion, stressed that he must produce two sureties with N500 million each.
It held that the sureties must be serving senators from any of the six geopolitical zones without pending criminal cases.
Justice Abang held that the sureties must have fully developed landed properties in either Maitama or Asokoro Districts of the Federal Capital Territory.
He said the sureties must be resident in Abuja and must accompany the defendant to court on every trial date, adding that they must submit their three years tax clearance certificate for verification.
The trial judge warned that Maina’s bail would be revoked any day his surety failed to accompany him to court for his trial.