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Shamsudeen Bala Mohammed, the son of former Minister of the Federal Capital Territory, Mr. Bala Mohammed Bala has been granted bail for N100m after being charged by the EFCC for financial irregularities of aover 1 bilion Naira!
The defendant who was on Wednesday remanded in Kuje Prison after he was arraigned on 15 counts of N1.1bn money laundering offences, is to, among other
bail conditions, provide two sureties to enter into N50m bail bond each.
Justice Nnamdi Dimgba ruled on Friday that the defendant, who was produced in court handcuffed by prison officials on Friday, should remain in custody pending when he would meet the bail conditions.
Shamsudeen is being prosecuted by the Economic and Financial Crimes Commission for allegedly paying millions of naira on different occasions totalling about N1.1bn for the purchase of houses without going through financial institutions.
The act was said to be in breach of Money Laundering (Prohibition) Act. Justice Dimgba on Friday ordered an accelerated hearing in the case and fixed March 27 and 28 for commencement of trial.
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His father is also facing legal matters of his own on corruption as well.
His son was a regular on social media,always flashing his luxurious cars and a flashy lifestyle.Well,i guess the long arm of the law has caught up with him.