Delivering the ruling on Monday, Justice Inyang Ekwo ordered that one surety must be a resident of Abuja and provide a three-year tax clearance certificate. The second surety must own landed property in Abuja valued at ₦2 billion.
As part of the bail conditions, Bodejo was directed to deposit his international passport with the court registrar and is prohibited from travelling outside Nigeria without prior approval from the court.
Justice Ekwo held that the charges against the defendant were bailable and ruled that the court had the discretion to grant bail.
The case was subsequently adjourned until 5, 6 and 7 October for the commencement of trial.
Bodejo has been in the custody of the Economic and Financial Crimes Commission (EFCC) since 9 July after being arraigned on allegations of money laundering.
The EFCC, represented by its counsel, Wahab Shittu (SAN), filed the charge on 24 June and submitted it to the court on 25 June, naming Bodejo as the sole defendant. At his arraignment, Bodejo pleaded not guilty to all counts.
Following the plea, Shittu applied for a trial date and requested that the defendant be remanded in custody.
Counsel for Bodejo, Ahmed Raji (SAN), informed the court that a bail application had been filed on 30 June. Arguing the application, Raji maintained that the alleged money laundering offences were bailable under the Administration of Criminal Justice Act (ACJA) and urged the court to exercise its discretion in favour of his client.
The EFCC opposed the application, with Shittu asking the court to refuse the request. However, Justice Ekwo granted Bodejo bail, subject to the conditions set by the court.
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