The Federal High Court in Abuja, on Tuesday, reduced the bail conditions it imposed on a former chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina.
Maina, along with his firm, Common Input Property and Investment Limited, is standing trial on charges of money laundering involving N2bn of pension funds.
Following his bail application, which was opposed by the EFCC, the judge had on November 26, 2019 granted him bail in the sum of N1bn.
The judge made the reduction in a ruling on Maina’s application for a review of the bail conditions granted by the court on November 26, 2019.
Also on Tuesday, the court varied the aspect of the earlier ruling requiring the defendant to produce as sureties two serving senators who owned landed assets worth N500m each in the highbrow Asokoro or Maitama, Abuja.
Maina had, through his application filed on December 6, 2019 and argued by his lawyer, Mr Afam Osigwe, on January 13, 2020, urged the court to vary the aspects of the conditions requiring him to provide two senators with properties worth a total of N1bn in Asokoro or Maitama, Abuja.
The judge held that he took a risk by granting bail to Maina in view of defence counsel’s failure to challenge the part of the Economic and Financial Crimes Commission’s counter-affidavit that the defendant could easily jump bail.
He however ruled, “I have watched the defendant at recent proceedings. I can see that he is now calm and has not interrupted proceedings again, unlike when he was arraigned. Maybe because he has now realised that the court is here to do justice.
“I reluctantly grant the application varying the bail conditions in accordance with my powers under Section 6(6)(b) of the Constitution. Punch