Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    South Africa 10-Year Bond Yield Edges Higher to 8.83%

    September 19, 2026

    Tinubu Hails EFCC as Nigeria Wins $6bn Mambilla Arbitration in Paris

    September 19, 2026

    Investors Trade 3.25bn Shares Valued at N238bn in Nigerian Market

    September 19, 2026
    Facebook X (Twitter) Instagram
    Trending
    • South Africa 10-Year Bond Yield Edges Higher to 8.83%
    • Tinubu Hails EFCC as Nigeria Wins $6bn Mambilla Arbitration in Paris
    • Investors Trade 3.25bn Shares Valued at N238bn in Nigerian Market
    • PIA: Market Forces Determines Fuel Prices – NMDPRA
    • NVIDIA bStocks Gains on Regulatory Tailwinds for Tokenized Equities.
    • SpaceX Tokenized bStocks Rises on SEC “Innovation Exemption” Bet
    • XRP Tops $1.44 as Ripple CEO Downplays Failed CLARITY Act
    • S&P Affirms Cameroon ‘B-/B’ Rating with Stable Outlook
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Sunday, September 20
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketForces News » Court Admits Ex-Power Minister, Mamman, to N10bn Bail

    Court Admits Ex-Power Minister, Mamman, to N10bn Bail

    Olu AnisereBy Olu AnisereJuly 12, 2024 News No Comments3 Mins Read
    Court Admits Ex-Power Minister, Mamman, to N10bn Bail
    Saleh Mamman
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    Court Admits Ex-Power Minister, Mamman, to N10bn Bail

    A Federal High Court in Abuja on Friday, admitted former Minister of Power, Saleh Mamman, to a N10 billion bail with two sureties.

    Justice James Omotosho, in a ruling on Mamman’s bail application moved by his counsel, Femi Ate, SAN, held that alternatively, the former minister shall enter into a bond or agreement of N10 billion with a bank.

    Tye judge held that the sureties must have landed property within the jurisdiction of the court.

    Justice Omotosho also held that the sureties’ property, which must have title registers, must worth N750 million valuation.

    Moreover, the judge said that the sureties must present affidavit of means and three years tax evidence which would be verified by the court registrar.

    He ordered that that sureties must produce a passport photograph each while Mamman must submit his international passport to the court registry.

    Justice Omotosho, who ordered Mamman to remain in Kuje Correctional Centre pending the perfection of his bail, adjourned the matter until Sept. 25 for trial.

    The News Agency reports that Justice Omotosho had, on Thursday, ordered the remand of ex-minister in the correctional centre pending the hearing of his bail application.

    The judge gave the order after Mamman pleaded not guilty to a 12-count amended charge bordering on money laundering offences.

    Upon hearing the bail application on Friday, the Economic and Financial Crimes Commission (EFCC)’s lawyer, A.O. Mohammed, did not oppose Mamman’s bail plea.

    Delivering the ruling, the judge said granting bail is a constitutional right of the defendant which must be exercised judicially and judiciously.

    He said the defendant is innocent until proven guilty by law.

    NAN reports that the EFCC had filed a 12-count money laundering charge against the Mamman.

    He was alleged to have committed the money laundering offences to the tune of N33 billion.

    The former minister served under former President Buhari from 2019 to 2021.

    On May 10, 2021, he was arrested and detained at the headquarters of the anti-graft agency in Abuja.

    Buhari had Sept. 1, 2021, sacked Mamman and the then Minister of Agriculture and Rural Development, Sabo Nanono, in what was called a cabinet restructuring.

    Mamman was accused of conspiring with staff of the ministry in charge of the accounts of the Zungeru and Mambilla Hydro Electric Power projects to divert billions of naira.

    The investigations uncovered property in Nigeria and overseas allegedly linked to the suspects, while millions of naira and dollars had reportedly been recovered. #Court Admits Ex-Power Minister, Mamman, to N10bn Bail

    ECOWAS Single Currency Will Facilitate Free Trade -Uwaleke

    Court
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Olu Anisere
    • Website
    • LinkedIn

    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

    Keep Reading

    South Africa 10-Year Bond Yield Edges Higher to 8.83%

    Tinubu Hails EFCC as Nigeria Wins $6bn Mambilla Arbitration in Paris

    Investors Trade 3.25bn Shares Valued at N238bn in Nigerian Market

    PIA: Market Forces Determines Fuel Prices – NMDPRA

    NVIDIA bStocks Gains on Regulatory Tailwinds for Tokenized Equities.

    SpaceX Tokenized bStocks Rises on SEC “Innovation Exemption” Bet

    Add A Comment

    Comments are closed.

    Editors Picks

    South Africa 10-Year Bond Yield Edges Higher to 8.83%

    September 19, 2026

    Tinubu Hails EFCC as Nigeria Wins $6bn Mambilla Arbitration in Paris

    September 19, 2026

    Investors Trade 3.25bn Shares Valued at N238bn in Nigerian Market

    September 19, 2026

    PIA: Market Forces Determines Fuel Prices – NMDPRA

    September 19, 2026

    NVIDIA bStocks Gains on Regulatory Tailwinds for Tokenized Equities.

    September 19, 2026
    Latest Posts

    South Africa 10-Year Bond Yield Edges Higher to 8.83%

    September 19, 2026

    Tinubu Hails EFCC as Nigeria Wins $6bn Mambilla Arbitration in Paris

    September 19, 2026

    Investors Trade 3.25bn Shares Valued at N238bn in Nigerian Market

    September 19, 2026

    PIA: Market Forces Determines Fuel Prices – NMDPRA

    September 19, 2026

    NVIDIA bStocks Gains on Regulatory Tailwinds for Tokenized Equities.

    September 19, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.