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Alleged N544m fraud:Court grants Babachir Lawal, two others bail

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An Abuja High Court has granted the immediate-past Secretary to the Government of the Federation, Mr. Babachir Lawal, and two others bail in the sum of N50m each with one surety.

Granting the bail on Wednesday, the court said the sureties must possess titles to lands within the jurisdiction of the court and be residents. They must also show evidence of tax payment for the past three years.

The Economic and Financial Crimes Commission had on Tuesday arraigned Lawal and four others on fraud charges.

EFCC alleged that the defendants fraudulently converted cumulative proceeds of grass cutting contracts worth about N544m which Lawal, as then SGF, allegedly awarded to the companies in which he had interests.

The defendants including Lawal pleaded not guilty to the 10 counts read to them before the Court.

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