The Federal High Court on Friday in Abuja granted bail on stringent conditions to Sani Teidi, former Director of Pension Accounts in the Office of the Head of Civil Service of the Federation.
Teidi is standing trial on a 22-count charge bordering on obtaining money under false pretences, conspiracy to commit fraud and concealing the illicit origin of about N6.5 billion stolen pension funds.
In giving the ruling, Justice Adeniyi Ademola granted the bail application to the tune of N500 million with two sureties in the like sum.
Ademola admitted Teidi on bail alongside Udusegbe Omoefe with similar conditions.
He said the bail conditions were stringent because of the grave nature of the offences as contained in the charge sheet.
The judge said the two sureties for each accused person must be relievable and must have landed property within the jurisdiction of the court.
He further said that the title deeds of the said property must be deposited with the deputy chief registrar of the court.
He added: “The accused persons should also deposit their travelling document with the court registrar and must not travel without the permission of the court.
“Once the travelling passports are with the court, they shall be transferred to the registrar of this court.”
The court deferred ruling on the bail application last week and remanded the accused persons in prison following a petition by Teidi to the Chief Justice of the Federation, alleging that the court was biased in the handling of his case.
The case has been adjourned to October 23 for commencement of trial.
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