The Federal High Court in Abuja on Friday admitted Former Director of Pension Accounts, Office of the Head Civil Service of the Federation, Shaibu Teidi to bail on stringent condition to the tune of N500m with two sureties in the like sum.
Justice Adeniyi Ademola granted the bail while ruling on a bail application filed by Shaibu Teidi and his accomplice, Udusegbe Eric Omoefe, who was also given similar bail conditions.
The duo are standing trial on a 22-count charge bordering on obtaining money by false pretence, conspiracy to commit fraud and concealing the source and origin of N6bn traced to his account and allegedly stolen from pension funds.
Delivering ruling on the bail application, Justice Ademola said the bail conditions are due to the fact that the nature of the offences, as contained in the charge sheet, are grave.
The judge said the two sureties for each accused persons must be reliable persons with landed properties within the jurisdiction of the court worth same amount. Also, the title deeds of the said property must be deposited with the deputy chief registrar.
“The two accused persons should deposit their travelling document with the court registrar and must not travel without the permission of the court,” Justice Ademola added. “If the travelling passports are already with the court, they should be transferred to the registrar of this court. Case adjourned to October 23, 2013 for trial.”
Justice Ademola had reserved the ruling on the bail application last week after Sani Teidi petitioned the chief justice of the federation, alleging that the court was biased in the handling of his case. Shaibu Teidi and Udusegbe Eric Omoefe associates were making frantic efforts to perfect their bail as 4pm on Friday.
