N1.2bn Fraud: Former FCT Minister’s Son Gets Interesting Bail Conditions

Unless he produces three years tax clearance among other things, the son of a former Nigerian minister will remain in Kuje prison for the next 51 days, until his N1.2billion fraud trial commences on March 27, 2017.
Garbed in richly embroidered native attire, Senator Bala Mohammed’s son, Shamsudeen, eventually returned to jail today even though he was not dressed for the part.
Justice Nnamdi Dimgba of the Federal High Court at Maitama, in Abuja, granted him bail in the sum of N100million with two sureties today.
The sureties must be private businessmen or public servants of the rank of assistant director and above. They must have landed properties in Abuja or within Lagos metropolis excluding satellite towns. The defendant must produce three years tax clearance and must not travel without the consent of the court.
The defendant will remain in Kuje prison pending the perfection of his bail terms.
Shamsudeen is being prosecuted on a 15-count charge of money laundering to the tune of N1.2 billion by the Economic and Financial Crimes Commission (EFCC).
He was docked on Wednesday February 1, 2017, along with four companies – Bird Trust Agro Allied Limited, Intertrans Global Logistic Limited, Diakin Telecommunications Limited and Bal-Vac Mining Nigeria Limited.
Shamsudeen and Diakin Telecommunications Limited are accused of making cash payment of the sum of N74, 244,005 to Abuja Investment Company Ltd without going through a Financial Institution. The offence is in breach of Section 1 of the Money Laundering (Prohibition) Act, 2011 (as amended in 2012).
On arraignment, he pleaded not guilty to the charge.
One of the counts reads:
“That you, Shamsudeen Bala (alias Shamsudeen Mohammed Bala), Bird Trust Agro Allied Ltd and Intertrans Global Logistics Ltd sometime in 2015 in Abuja within the jurisdiction of this Honourable Court did without going through a Financial Institution make cash payment of the sum of N296,000,000 (two hundred and ninety six million naira) only to A & K Constructions Ltd Abuja and Sunrise Estate Development Ltd for Construction of a house on plot numbers 2116 and 2276 at Asokoro Gardens (alias Sunrise Estate) Abuja, which sum exceeded the statutory limit and thereby committed an offence contrary to Section 1 of the Money Laundering (Prohibition) Act, 2011 as amended in 2012 and punishable under Section 16(2)(b) and (4) of the same Act.”