N29B Fraud: Court Grants Ex-Gov Nyako, Son N350M Bail Each (PHOTOS)

The former governor of Adamawa state, Murtala Nyako, has been granted bail in the sum of N350 million by a Federal High Court sitting in Abuja.

In his ruling, Justice Evoh Chukwu, granted bail to Nyako, his son, Abdul-Aziz Nyako, and two other accused, Abubakar Aliyu and Zulkifikk Abba who were prosecuted along with the ex-governor for about N29 billion fraud charges, Premium Times reports.

The bail was granted to the four accused persons in the sum of N350 million each with each of the four accused required to produce two sureties each or one surety who must be a serving director in any federal government establishment.

The sureties, the judge added, must show evidence of being land owners in Abuja and must present verified tax payment documents for the past three years.

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Moving the bail application, Nyako’s counsel, Kanu Agabi, SAN, a former Attorney General of the Federation prayed the court to admit the accused persons to bail on liberal terms, arguing that they are at the moment presumed innocent.

He said: “They won’t run away because, like a goldfish, they have no hiding place. Moreover, they have been on administrative bail, which they have honoured.”

However, the prosecuting counsel, Rotimi Jacobs, SAN, urged the court to refuse the bail application of the accused.

According to Jacob, the former governor and his son absconded and went into hiding, until after May 29, 2015.

He said: “They are not automatically entitled to bail even with their status. Moreover, we believe that they may abscond based on their past antecedent as fugitives and thus not come for trial based on the very weighty evidence brought against them.”

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Jacobs said two principal witnesses in the case died mysteriously shortly after they gave statements, which indicted the accused persons in the crime.

However, Justice Chukwu, in his ruling dismissed the opposition of the EFCC, ordering the accused persons to deposit their passport and other travel documents with the court registrar.

Former Governor of Adamawa State , Murtala Nyako after he was granted bail at Federal High Court Abuja on Friday (Photo credit: The Nation)

Former Governor of Adamawa State , Murtala Nyako after he was granted bail at Federal High Court Abuja on Friday (Photo credit: The Nation)

The judge had on Wednesday, July 8, remanded the accused in the custody of the EFCC upon their arraignment on 34 counts of money laundering and fraud instituted against them‎.

Nyako was arraigned together with his co-accused by anti-graft agency on a 37-count charge bordering on criminal conspiracy, stealing, abuse of office and money laundering to the tune of N29 billion.

The accused persons are alleged to have, at various times between 2011 and 2013, used five companies – Blue Opal Nigeria Limited, Serore Farms & Extension Limited, Pagoda Fortunes Limited, Towers Assets Management Limited and Crust Energy Limited to commit the fraud.

Nyako was impeached as Adamawa state governor by the state House of Assembly on July 15, 2014. While his son, Abdul-Aziz Nyako is the senator representing Adamawa Central in the National Assembly.

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