N4bn Fraud Trial: Ex-Kano MD, Son Get Bail
A Kano High Court on Thursday granted bail to a former Managing Director of Kano Agricultural Supply Company, Bala Muhammad and his son, Bala Jnr. who are standing trial for alleged diversion of N4 billion state fund.
Muhammad was arraigned before Justice Hafsat Sani following an investigation by the Kano State Public Complaints and Anti-Corruption Commission on allegations bordering on criminal breach of trust, making false statement or return and official corruption.
He was subsequently remanded in custody on November 2, 2023, when the charges were read to him and he pleaded not guilty to all the charges.
At the court sitting on Thursday, Justice Sani, while admitting the defendants to bail, said two sureties must swear to an affidavit of means, showing gainful employment or engagement and they shall support the affidavit with documents showing an ongoing registered business, office address, and residential addresses of each of the sureties.
The sureties must also present tax documents covering three preceding years which must be verified by the court registrar, while the police attached to the court must submit an affidavit confirming all information deposited in the affidavit of the sureties.
Muhammad is also required to obtain a letter of identification from a responsible citizen of Nigeria who works or does business within the territorial jurisdiction of the court while all the sureties must be resident of Kano metropolis.
The hearing of the main suit is expected to commence on December, 6 2023.
