Justice James Omotosho, in a ruling on Mamman’s bail application moved by his counsel, Femi Ate, SAN, held that alternatively, the former minister shall enter into a bond or agreement of N10 billion with a bank.
The judge held that the sureties must have landed property within the jurisdiction of the court.
Justice Omotosho also held that the sureties’ property, which must have title registers, must worth N750 million valuation.
Moreover, the judge said that the sureties must present affidavit of means and three years tax evidence which would be verified by the court registrar.
He ordered that that sureties must produce a passport photograph each while Mamman must submit his international passport to the court registry.
Justice Omotosho, who ordered Mamman to remain in Kuje Correctional Centre pending the perfection of his bail, adjourned the matter until Sept. 25 for trial.
Justice Omotosho had, on Thursday, ordered the remand of ex-minister in the correctional centre pending the hearing of his bail application.
The judge gave the order after Mamman pleaded not guilty to a 12-count amended charge bordering on money laundering offences.
Upon hearing the bail application on Friday, the Economic and Financial Crimes Commission (EFCC)’s lawyer, A.O. Mohammed, did not oppose Mamman’s bail plea.
Delivering the ruling, the judge said granting bail is a constitutional right of the defendant which must be exercised judicially and judiciously.
He said the defendant is innocent until proven guilty by law.
The EFCC had filed a 12-count money laundering charge against the Mamman.
He was alleged to have committed the money laundering offences to the tune of N33 billion.
The former minister served under former President Buhari from 2019 to 2021.
On May 10, 2021, he was arrested and detained at the headquarters of the anti-graft agency in Abuja.
Buhari had Sept. 1, 2021, sacked Mamman and the then Minister of Agriculture and Rural Development, Sabo Nanono, in what was called a cabinet restructuring.
Mamman was accused of conspiring with staff of the ministry in charge of the accounts of the Zungeru and Mambilla Hydro Electric Power projects to divert billions of naira.
The investigations uncovered property in Nigeria and overseas allegedly linked to the suspects, while millions of naira and dollars had reportedly been recovered.
