Alleged ₦80.2bn Fraud: Court Grants ₦500 Million Bail To Yahaya Bello
Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, on Friday granted bail to a former governor of Kogi State, Yahaya Bello, to the sum of N500m with two sureties in like sum.
The sureties must own properties within the court’s jurisdiction. Bello is also required to deposit his international passport with the Deputy Chief Registrar of the court, submit recent passport photographs, and swear an affidavit of means.
Bello, through his Lawyer, J.B. Daudu SAN, also apologized to the Court for failing to appear before it for the trial.
He further expressed regret for any perceived disrespect toward the court.
“My lord, I am apologizing on behalf of the defendant for any perceived disrespect toward the court in the past,” he said.
Addressing the court, Dauda clarified that the defendant’s earlier actions were not intended as contempt. “For the record, my lord, I wish to apologize for any impression that the defendant refused to appear before your Lordship. He directed his former counsel to challenge the court’s jurisdiction, which led the matter up to the Supreme Court. This was not an act of disrespect but a procedural move,” he said
He further stressed that, “The defendant, a two-term governor of Kogi State, holds the court in the highest regard. I assure this honourable court that he will appear for trial on all adjourned dates, barring sickness or death.”
Didactic Information Hut reports that Bello is facing a 19-count charge bordering on criminal breach of trust and money laundering, contrary to Section 18(a) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended).
One of the charges read: “That you, Yahaya Adoza Bello, Ali Bello, Dauda Suleiman, and Abdulsalam Hudu (still at large), sometime in February 2016 in Abuja, within the jurisdiction of this Honourable Court, conspired amongst yourselves to convert the total sum of ₦80,246,470,089.88 (Eighty Billion, Two Hundred and Forty-Six Million, Four Hundred and Seventy Thousand and Eighty-Nine Naira, Eighty-Eight Kobo), which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit: criminal breach of trust, thereby committing an offence contrary to Section 18(a) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011, as amended.”
Other charges include alleged fraudulent transactions involving billions of naira and foreign currency, carried out between 2016 and 2023 through various companies. Bello pleaded not guilty to all charges.
Daudu sought bail for his client, applauding the understanding of the prosecution. “I must express profound respect for my learned silk for the prosecution, Dr. Kemi Pinheiro SAN. He shared a soft copy of the counter-affidavit before today’s proceedings, and we agreed to avoid unnecessary arguments. We urge the court to grant bail on reasonable terms and conditions,” he said.
Responding, Pinheiro praised the defence counsel’s professionalism. “I must acknowledge the integrity of J.B. Daudu SAN. We have worked to streamline the proceedings and reduce the burden on your Lordship. The EFCC is a professional, not a persecutorial body. However, the decision to grant bail and its conditions are entirely at the court’s discretion,”he said.
Pinheiro also noted the defendant’s apology, adding, “Let it be on record that the defendant has apologized through his counsel.”
Justice Nwite, while delivering his ruling, emphasized his independence. “Neither party will guide me on what to do. However, given the assurances by J.B. Daudu SAN, I am inclined to grant bail. But for these assurances, my ruling might have been otherwise,” the judge stated.
Until the bail conditions are met, Justice Nwite ordered that Bello should be remanded at the Nigerian Correctional Centre, Kuje and adjourned the trial to February 24 and 28, as well as March 6 and 7, 2025, for continuation of trial.
