A High Court in Kano on Thursday granted bail to the former Managing Director of Kano Agricultural Supply Company (KASCO) Bala Inuwa Muhammad and his son, Bala Inuwa Muhammad (Jr) standing trial for alleged diversion of N4 billion.

Muhammad was arraigned by Kano Attorney General before Justice Hafsat Yahaya Sani following an investigation by the Kano State Public Complaints and Anti-corruption Commission.

He is being accused of criminal breach of trust, false statements, official corruption and misappropriation of state’s fund.

Although, he pleaded not guilty to all the charges, he was remanded in prison custody since November 2.

When the matter come up on Thursday for ruling on bail application brought by the accused’s legal counsel, Prof. N.A Aliyu SAN, the Presiding Judge, Hafsat Yahaya Sani admitted the application to bail in sum of N500 million and two “responsible sureties” who both are up to date tax payers in the sum of N250 million each.

The second accused, Bala Inuwa Muhammad (Jr), was admitted to bail in the sum of N50m and two reasonable sureties of N25 million each.

The sureties must also swear to affidavit of means supported with documents showing an ongoing registered business and residential addresses.

The court also asked the sureties, who must be resident of Kano metropolis, to present tax documents covering three preceding years which must be verified by the court registrar, while the police attached to the court must deposed to an affidavit confirming all information deposed to in the affidavit of the sureties.

Muhammad is also required to obtain a letter of identification from a responsible citizen of Nigeria who works or does business within the territorial jurisdiction of the court.

The court announced December 6 as date for hearing of the main suit.

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