EKO HOT BLOG reports that the bail was granted following allegations of N1.96 billion fraud.
Justice James Omotosho, ruling on the bail application presented by defense lawyer Isidore Udenko, stipulated that the sureties must own properties within Abuja valued at no less than N250 million each.
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The sureties are also required to submit three years of tax clearance certificates, bank statements, and an affidavit of means, all of which must be verified by the court registrar.
The trial has been adjourned to January 31.
Nnabuoku pleaded not guilty to a nine-count amended charge brought by the Economic and Financial Crimes Commission (EFCC). The charges allege that Nnabuoku conspired with companies, including Temeeo Synergy Concept Limited and others, to launder proceeds of unlawful activities. The EFCC claims the actions contravene the Money Laundering Prohibition Act.
Previously, Nnabuoku and co-defendant Felix Nweke had proposed a plea bargain agreement, which was pending EFCC Chairman Ola Olukoyede’s approval. However, during the latest hearing, the EFCC filed an amended charge listing only Nnabuoku as the defendant.
Nnabuoku remains in custody until bail conditions are met.
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