An FCT High Court has slammed N100 million bail on a former Chief of Naval Staff (CNS) retired Vice Admiral Usman Jibrin, for alleged N600 million fraud while in office.
Justice Sadiq Umar also admitted two retired Rear Admirals Bala Mshelia and Shehu Ahmadu bail in the sum of N100 million each with two sureties each in like sum.
The Economic and Financial Crimes Commission (EFCC) arraigned the three defendants on a four-count charge bordering on criminal conspiracy and purchase of house.
They were docked alongside Habour Bay International Limited, a company which allegedly conspired with them.
The naval chiefs allegedly bought a house worth N600 million while in office from the account of Naval Engineering Services without it being captured in the budget.
The EFCC said that the documentation was done such that a private company owned by the family of Jibrin became the buyer.
Umar said the two sureties must be civil servants from grade level 16, and owned landed property within the jurisdiction of the court.
He said that the property must be verified by the Chief Registrar of the court.
Umar further said that the defendants would also deposit their international passports with the Chief Registrar of the court.
Meanwhile, they are to be remanded at the EFCC’s custody pending when the bail conditions would be met.
He adjourned the case till Nov. 14 and Nov 15.
Earlier, Mr Yakubu Maikyau (SAN) Mr Abimbola Kayode, Mr Olatunji Salawu and Mohammadu Duku Counsel to Jibrin, Mshelia and Ahmadu had urged the court to grant their clients bail.
The prosecuting counsel Mr Faruk Abdullahi, had opposed the bail for Jibrin and Ahmadu because they would influence prosecution witnesses.
He, however, did not oppose the bail application for Mshelia on health ground.