N23bm Pension Scam: Convicted Director Gets Bail

N23bm Pension Scam: Convicted Director Gets Bail

A former deputy director at the Police Pension Office, John Yusufu, who was last month remanded in Kuje Prison, has been granted bail.

Yusufu was previously convicted by a Federal Capital Territory (FCT) High Court after pleading guilty to a three count charge of misappropriating N23 billion pension funds. Justice Abubakar Talba sentenced him to two years imprisonment with an option of N750,000 fine, which he paid. Yesterday, Justice Adamu Bello of the Federal High Court granted Yusufu bail in the sum of N10 million with a reliable surety in like sum.

The surety must be in the Federal Civil Service (not below the rank of director), be resident in the Federal Capital Territory (FCT) and must show evidence of landed property in the FCT. Prosecuting counsel, Rotimi Jacobs (SAN), had urged the court to deny Yusufu bail for fear that he will interfere with investigation but the court said considering that investigation has been concluded and trial commenced, it will exercise its discretion in favor of the accused person. Bello said Yusufu’s remand was to keep him from public glare so as to enable the passions and emotions of the public cool down.

As part of the bail terms, Yusufu will submit his international passport at the office of the chief registrar of the court and will not travel out of the country without permission of the court. Meanwhile, he will remain in prison until the bail conditions are met. Yusufu is alleged to have knowingly failed to make full disclosure of his assets and liability in the declaration of assets form which he filled last February.

He is said to have failed to declare his interest in a company known as SY-A Global Services Limited, which is solely owned by him and members of his immediate family. The offense is punishable under section 27(3) of the EFCC Act (2004). He is equally alleged to have failed to declare his interest in a N250 million fixed deposit account in the name of the said company and maintained by Zenith Bank Plc.

Yusufu pleaded not guilty to all four counts. The court has slated April 22 for trial.

Source: Naija.ng

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