A Federal High Court in Kaduna has refused to grant bail to Bashir Ibrahim Bello, currently facing trial in three separate fraud cases with over 400 petitions filed against him at the Economic and Financial Crimes Commission (EFCC).
Justice R. M. Aikawa delivered the decision on Tuesday, November 25, after considering arguments on a bail application in one of the cases. The court agreed with the prosecution that, given the seriousness and number of allegations, there was a high risk that Bello might flee.
Bello, Managing Director of Formal Act Legacy Limited, stands accused of involvement in an alleged N30 billion fraud involving money laundering, obtaining money under false pretences, and retention of proceeds of crime. His legal challenges escalated between late October and early November when he was arraigned three times on separate charges.
He was first arraigned on October 29 on a seven-count charge (FHC/KD/316C/2025), followed by an eight-count charge on November 3 (FHC/KD/285C/2025), and a five-count charge on November 6 (FHC/KD/246CC/2025).
During the hearing, EFCC lawyer F.A.I. Asemebo argued that the large number of pending petitions and ongoing prosecutions made granting bail unsafe. The court accepted this argument and ordered Bello to remain in custody.
Bello was arrested on April 28 after numerous complaints accusing him of defrauding individuals by obtaining money under false pretences.
