Justice Maryann Anenih of the Federal Capital Territory High Court has denied to grant a bail application filed by the former governor of Kogi State, Yahaya Bello, saying it was filed prematurely.
Justice Anenih delivered the ruling, saying the instant application was incompetent because it was filed when he was neither in custody nor before the court.
The former governor is standing trial, along with two others, in an alleged N110bn money laundering charge brought against him by the Economic and Financial Crimes Commission (EFCC).
In the arguments before the court on the bail application, the judge had said, “Before the court is a motion on notice, dated and filed on 22nd November. The 1st defendant seeks an order of this honourable court admitting him to bail pending the hearing and determination of the charge.
“That he became aware of the instant charge through the public summons. That he is a two-term governor of Kogi State. That if released on bail, he would not interfere with the witnesses and not jump bail.”
She said the defendant’s counsel, JB Daudu (SAN), had told the court that he had submitted sufficient facts to grant bail.
He urged the court to exercise its discretion judicially and judiciously to grant the bail.
In opposing, the prosecution counsel Kemi Pinheiro had argued that the instant application was grossly incompetent, having been filed before arraignment.
He said it ought to be filed after arraignment but the 1st defendant’s counsel disagreed, saying there was no authority.
While delivering her ruling, Justice Maryann Anenih said, “The instant application for bail showed that it was filed on the 22nd of November. This shows that it was filed several days after the 1st defendant was taken into custody.”
Reading from the ACJa section, the judge said the provision provided that a bail application could be made when a defendant had been arrested, detained, arraigned, or brought before the court.
Bello had filed an application for his bail on 22nd November but was taken into custody on 26th November and arraigned on 27th November.
The second defendant Umar Oricha was granted bail in the sum of N300m with two sureties.
The sureties must be a holder of a property in Maitama valued at not less than the bond sum, they must also deposit their original title document before the court.
The sureties must depose to an affidavit of means and copies of passport of sureties be deposited.
The court also ruled that Oricha shall deposit travel documents and be remanded in prison custody pending fulfillment of the bail conditions.
FRC Pledges Support for Essential Tax Reform Legislation
The Fiscal Responsibility Commission (FRC) has voiced strong support for the Tax Reform Bills currently under consideration in the National Assembly.
These bills, developed by the Presidential Fiscal Policy and Tax Reforms Committee, aim to enhance fiscal governance, transform public revenue structures, and boost economic growth.
The Chairman of the Commission, Victor Muruako (Esq) made this known at an interaction with academics and journalists on the sidelines of the Fellowship Lecture and Investiture Ceremony of the Capital Market Academics of Nigeria (CMAN), held on Monday in Abuja.
According to a statement by FRC’s Head, Strategic Communications Officer, Bede Anyanwu on Tuesday, the commission revealed that a critical analysis of the bills by the commission has found the bill not containing any issue or item that could be said to be skewed to favour any region or section of the Country.
“The bills rather create a more equitable distribution of resources amongst Nigeria’s federating states,” Mr Muruako added.
He averred that his Commission’s analyses also confirm that the proposed reforms are designed to benefit all Nigerians, particularly low-income earners and Micro Small and Medium Businesses (MSMBs).
Muruako outlined some of the key benefits of the reforms, including Tax relief for low-income earners: Individuals earning less than N1.7 million annually will pay less income tax.
Reduction of tax burden on Small businesses: Businesses with turnovers below N50 million will be exempted from tax, while over 90% of small businesses will no longer pay profit tax.
Simplification of the tax system: The number of taxes and levies will be significantly reduced, streamlining the tax administration process.
Increasing revenue for subnational governments: States and local governments will receive a larger share of VAT revenue, empowering them to provide better public services, and
Improving ease of doing business: The reforms will reduce the administrative burden on businesses and make it easier to comply with tax regulations.
Anyanwu explained that the Executive Chairman is upbeat that the tax relief for low-income earners will enhance savings and capital formation at household levels.
He expressed confidence that given the positive correlation between savings and investment, the increase in small household investments across the board would lead to improvements in the sustainable growth of the nation’s economy.
He also opined that the reduced tax burden on small businesses would give Micro-Small Medium Enterprises breathing space, and enable them to grow organically, hence contributing to a sustained increase in the nation’s GDP in the near future.
On the recent controversies over the bills, Muruako praised President Bola Tinubu as a democrat for allowing room for further dialogue.
He further appealed to all stakeholders across geopolitical zones to support the bills because their transformative potentials stand to benefit every Nigerian.
