An FCT High Court on Friday granted a N100 million bail to Shamsudeen Bala Mohammed, son of former Federal Capital Territory Minister, Bala Mohammed.
Mohammed was charged to court by the Economic and Financial Crimes Commission, EFCC, on a 15-count charge of money laundering to the tune of N1.1 billion.
The EFCC alleged that Mohammed spent N1.1 billion on properties without going through financial institutions, stating that the act contravenes the Money Laundering Prohibition Act.
The judge, Nnamdi Dimgba, who had earlier ordered that the defendant be remanded in Kuje Prison on Wednesday, admitted him to a N50 million bail with two sureties in like sum amongst other conditions.
Justice Dimgba adjourned the case till 27 and 28 March for trial.