A Minna High Court on Wednesday granted bail in the sum of N150 million to former Gov. Babangida Aliyu of Niger, charged with N4.568 billion misappropriation.
Aliyu was arraigned last Tuesday on a six-count charge alongside Umar Nasko, the Chief of Staff under his administration.
The former officials were accused of conspiring and dishonestly converting for personal use, the sum belonging to Niger State Government.
According to the Economic and Financial Crimes Commission (EFCC), which is prosecuting the former officials, the misappropriated funds are ecological projects funds as well as money realised from the sale of 16 per cent shares of the state in the North-South Power Company.
The defendants, however, pleaded not guilty.
Ruling on the bail applications of the accused, Justice Aliyu Mayaki said: “The first applicant is admitted to bail in the sum of N150 million with two sureties in like sum, who must be resident within the jurisdiction of the court.
“The sureties must also deposit Certificate of Occupancy (C of O)of landed property worth not less than N200 million, situated within the jurisdiction of the court.
“The second applicant is granted bail in the sum of N100 million and two sureties in like sum.
“The sureties must deposit C of O of landed property worth not less than N150 million.”
The judge held that the EFCC had not adduced concrete evidence to show that the defendants would interfere with justice, if granted bail.
He said that the defendants had no criminal antecedents, adding that they provided sufficient materials in support of their applications. The case until June 12 commencement of hearing.