Fraud charge: Maina granted N1bn bail

By Vivian Okejeme,Abuja

The Federal High Court, Abuja, Monday , granted former Chairman of the defunct Pension Reform Task Team (PRTM), Abdulrasheed Maina, bail in the sum of N1 billion.

Justice Okon Abang, who gave the ruling, also ordered that Maina must produce two sureties who must be serving senators, adding that the lawmakers must not be standing any criminal trial in any court in the country.

He also ruled that the two sureties, who must be prepared for a N500 million bond each, must always be in court with the defendant at each adjourned date.

The Economic and Financial Crime Commission (EFCC) is prosecuting the embattled former pension boss, over alleged money laundering charge involving over N2 billion.

The federal government, also claimed that the Maina and his company, Common Input Property and Investment LTD is operating a fictitious account and other fraudulent activities using some banks in the country.

Justice Abang had, on Nov. 21, fixed Monday for hearing on the bail application and for continuation of Maina’s trial.

The judge accused the Nigerian Correctional Services (NCS) of compounding the issue before the court by failing to produce a medical report on Maina’s health status days after the order to that effect was made.

He further ruled that subsequent proceeding of the trial would be on a day-to-day basis.

Justice Abang, had at the last adjourned date, warned all the parties in the trial against any activities aimed at delaying proceedings.

The judge read riot act to the parties, counsel and officials of the Nigerian Correctional Services to desist from making frivolous applications aimed at stalling the proceedings.