A former Director of Pensions Account in the Office of the Head of Civil Service of the Federation, Dr. Sani Shuaibu Teidi, was on Friday granted bail by an Abuja Federal High Court.
He was on trial over an N18.3bn pension fraud.
The court presided by Justice Adeniyi Ademola granted Teidi bail in the sum of N500m and two sureties in like sum.
The court ordered that the sureties must have landed properties in the Federal Capital Territory, and must also swear to an affidavit of means.
Title deeds of the said properties will also be submitted to the court.
Teidi was also ordered to deposit his travelling passport with the court.
He was remanded in the custody of Kuje Prisons in the FCT following his arraignment by the Economic and Financial Crimes Commission on June 7, 2013.
Teidi was arraigned alongside one Udusegbe Eric Omoefe and their companies, on 22 counts of obtaining money by false pretence, conspiracy to commit fraud and concealing the illicit origin of stolen pension fund, totalling over N18.3bn.
The said companies are Gozinda Enterprises, Bashinta Nigeria Limited, Haleath Enterprises, Uthatak Nigeria Limited, Krasiva Badawulu Ventures Limited, Ebunu Attah Investment, Muha Millennium Motors Limited and Ribaile Petroleum Limited.
via nigerianeye
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