The Federal Capital Territory High Court in Abuja has granted him bail in the sum of N500 million.
The decision was made by Justice Maryann Anenih after considering a fresh bail application presented by Bello's legal team. Bello, who is facing charges of criminal breach of trust and money laundering amounting to N110.4 billion, had previously been denied bail due to procedural irregularities.
However, during the latest court session, his counsel, J.B. Daudu SAN, appealed to the court to reconsider the conditions attached to the bail, particularly concerning the requirement for landed property in the Maitama district. "My Lord, most people who may be willing to stand as sureties are reluctant to part with their original title documents," Daudu argued.
He further explained that many properties in Maitama are corporate establishments, making it challenging to secure the necessary documents. "We are pleading with this honourable court to consider other highbrow areas such as Asokoro, Wuse 2, Guzape, and others when granting bail to our client," he added.
The prosecution, represented by Olukayode Eniton SAN, did not oppose the bail application, acknowledging the discussions held with the defense team. "Based on the assurance that the defendant will stand trial, barring unforeseen circumstances, we are willing to defer to your lordship's discretion regarding the terms and conditions of bail," Eniton stated.
Justice Anenih, in her ruling, granted Bello bail with three sureties in like sum. The sureties must be notable Nigerians with landed property in Maitama, Jabi, Utako, Apo, Guzape, Garki, or Asokoro. Additionally, Bello is required to deposit his passport and other travel documents with the court registrar and remain in the custody of the Nigerian Correctional Service Centre, Kuje, until his bail conditions are met.
The court also addressed the bail conditions for two other defendants, Umar Shuaibu Oricha and Abdulsalami Hudu, reducing their bail sum from N300 million to N200 million.
They were allowed to secure properties within the jurisdiction of the court equivalent to the bail sum.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Bello alongside Oricha and Hudu on a 16-count charge related to the alleged financial misconduct.
The case has been adjourned for further hearing on January 29, 2025.
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