A federal high court in Abuja has granted N1 billion bail to Abdulrasheed Maina, former chairman of the Pension Reform Task Team.
TVC News Judiciary correspondent, Celestina Iria reports that Maina was arraigned on 25th October, on a 12 count charge of money laundering.
Justice Okon Abang who gave the ruling also ordered that Mr Maina must produce two sureties who must be serving senators. The two lawmakers, according to the judge, must not be standing criminal trial in any court in the country.
He also ruled that the two sureties, who must be prepared to submit for a bond of N500m each, must always be in court with the defendant at
each adjourned date.
Mr Maina is being prosecuted by the Economic and Financial Crimes Commission over N2 billion money laundering charges.
The EFCC had, on October 25, charged the defendant before the court alongside his firm, Common Input Property and Investment Ltd. He pleaded not guilty to the 12 counts and his trial has yet to make meaningful progress due to his failing health.