An FCT High Court on Wednesday granted bail to the former Secretary to the Government of the Federation (SGD), Babachir Lawal in the sum of N50m.
The Economic and Financial Crimes Commission ( EFCC), Tuesday, Arraigned Lawal on a 10-count charge bordering on alleged conspiracy and fraudulent acquisition of property.
He was arraigned alongside Hamidu David, Suleiman Abubakar and two companies, Rholavision engineering Ltd and Josmon Technologies Ltd.
The defendants, however, pleaded not guilty to the 10 -count charge.
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President Muhammad Buhari, had on October 2017, suspended Lawal following a report of investigations by panel headed by the Vice President , Yemi Osinbajo, which indicted him on allegations of fraud.
He was indicted for allegedly using his companies to get contracts worth millions of naira without executing the contracts.
Ruling on the bail application on Wednesday, Justice Jude Okeke , said the crime for which defendants is charged for is bailable.
As part of the bail conditions, the judge ordered that the defendants pay N50m each with one surety in like sum.
“The sureties must be a resident of the FCT and must own landed property.
“The sureties must also provide evidence of tax paid in the last three years.
“Pending compliance to the aforementioned conditions, the applicants is to remain in the EFCC custody, Mr Okeke added.
The court further noted that each of the defendants is to deposit their international passport with the court pending the fulfilment of the bail conditions.
Justice Okeke adjourned to March 18 for commencement of trial.
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