A Federal High Court in Abuja on Friday granted bail to a former governor of Adamawa State, Murtala Nyako, and his son, Abdul-Aziz, and others being prosecuted along with him for about N29bn fraud charges.
Economic and Financial Crimes Commission (EFCC) alleges that the former governor and his son along with two others used five companies- Blue Opal Nigeria limited, Serore Farms & Extension Limited, Pagoda Fortunes Limited, Towers Assets Management Limited and Crust Energy Limited which have been traced to the governor to siphon N15 billion belonging to Adamawa state government.
The bail was granted to the four accused persons in the sum of N350m each with each of the four accused persons required to produce two sureties each or one surety who must be a serving director in any Federal Government establishment.
The sureties to be produced must also have landed property in the Abuja Municipal Area Council, which the court ordered must be verified by the court bailiff.
The sureties are also expected to swear an affidavit of means.