A British national, James Nolan was granted a N500 million bail application at a Federal High Court, Abuja.
Justice Okon Abang, who granted the bail-in an application filed by Nolan, ordered that the applicant must produce “a surety in like sum, who must be a Nigerian and a serving senator not standing any criminal trial in any court in Nigeria.
Economic and Financial Crimes Commission (EFCC) had, on Oct. 21, arraigned Nolan and Adam Quinn (at large), both British nationals, over their alleged complicity in the 9.6 billion dollars judgment against Nigeria.
The arraignment of the two British nationals is coming weeks after two P&ID directors were convicted over the deal.
The defendants, both directors of Goidel Resources Limited, a Designated Non-Financial Institution (DNFI) and ICIL Limited, were arraigned on a 16-count charge bordering on money laundering.
Justice Abang said: “The senator must have a landed property fully developed in the Maitama area of Abuja and fully certified by the FCDA. The surety must submit two passport photographs” he said.
He also ruled that the surety must submit a three-year task certificate.
The judge also ruled that the applicant must submit his international passport, said the surety would undertake in writing to always be in and must be seen in court with the defendant at every adjourned date.
He said where the surety failed to do this, the bail would be rescinded.