N5b fraud: Ex-pension director begs for light bail terms A former Director of Pension Accounts in the Office of the Head of Service of the Federation, Dr. Teidi Shuaibu, on Monday prayed an Abuja Federal High Court to vary the terms of his bail. Shauibu is facing trial over an allegedN5bn pension fraud. Justice Ademola Adeniyi had on July 12, 2013, granted bail to Shuaibu and his co-accused, Udusegbe Eric, a former manager with the defunct Oceanic Bank Plc, in the sum of N500m with two sureties each in like sum. The said sureties must own landed property within the jurisdiction of the court, and title deeds of the property are to be deposited with the Deputy Chief Registrar of the court. However, the accused persons have not been able to meet the bail conditions. At the continuation of hearing in the matter, defence lawyers, Sunday Ameh, SAN, and Adewale Adegoke, moved separate applications seeking the variation of the condition and terms attached to the bail granted the accused persons. They both prayed the court to reduce the number of sureties for each of the accused from two to one. Ameh, who represented Shuaibu, sought the reduction of the amount from N500m to N100m, Adegoke, who appeared for Uduesegbe, asked the court to reduce the sum attached to his client’s bail to N10m. Punch Newspaper.
Posted on: Mon, 18 Nov 2013 22:57:31 +0000
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