The Supreme Court on Thursday granted bail to the tune of N4m to a former member of the Kogi State House of Assembly, Gabriel Daudu, who had been convicted by a Federal High Court in Kogi for an alleged N1.4bn fraud.
He was found guilty of 77 out of 208 counts and consequently sentenced to two years on each of the counts. The sentence was to run concurrently.
The convict, who is also a former Caretaker Chairman of Ogori/Magongo Local Government Area of Kogi State, had approached the Court of Appeal to upturn his conviction but the appellate court on March 1, 2017, threw it out.
He therefore approached the apex court to upturn his conviction.
The lawyer and relative of the convict, Joseph Daudu (SAN), who is also a former President of the Nigerian Bar Association, asked the court to grant his client bail on liberal terms.
However, the counsel for the Economic and Financial Crimes Commission, Mr. Wahab Shittu, opposed the application.
After due consideration of arguments, the Supreme Court admitted Daudu to bail with two sureties in the sum of N2m each.
The sureties must have land property and must be resident in the FCT.
Duadu, who is currently serving his prison sentence in Koton-Karfe is expected to complete the sentence in August.