Buhari’s Minister In Distress As Court Sets N10b Bail Bond Over N33b Money Laundering Charges

Justice James Kolawole Omotosho of the Federal High Court, Abuja has set a bail bond of N10 billion for former Minister of Power, Saleh Mamman following his arrangement on money laundering charges amounting to N33 billion.

The bail must be secured by a reputable bank in Nigeria, and the entire N10 billion will be forfeited to the federal government if Saleh Mamman fails to appear for his trial.

This ruling was issued on Friday following a bail application argued by Femi Ate, SAN on behalf of Mamman.

As an alternative to the bail bond, Saleh Mamman is required to provide two sureties, each also responsible for N10 billion, with properties valued at a minimum of N750 million located within Abuja. These properties must have registered titles, which will be verified by the court’s registrar, along with proof of three years tax payments.

Additionally, Mamman and his sureties must deposit their international passports with the court and are prohibited from traveling outside the country without prior court approval. Justice Omotosho ordered that Saleh Mamman be remanded in Kuje prison until he meets the bail conditions.

At the time of reporting, Mamman appeared distressed by the stringent bail requirements and was actively seeking ways to fulfill them to avoid imprisonment.

The Economic and Financial Crimes Commission (EFCC) has charged Mamman with 12 counts of money laundering, to which he pleaded not guilty during his arraignment on July 11. He is accused of involvement in laundering funds totaling N33 billion and served as Minister under former President Buhari from 2019 to 2021.

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