Former Managing Director of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) Plc, Mr Aliyu Abdulhameed, alongside his co-defendant, Babangida Abdullahi, faced arraignment before the Federal High Court in Abuja on Wednesday over allegations of forgery. The charges against them, outlined in a 10-count charge filed by the Nigeria Police Force, allege that they conspired with others in October 2023 to forge public documents. This action, if proven, would contravene Section 3(6) of the Miscellaneous Offences Act and is punishable under Section 1(2){c} of the same Act.

NIRSAL, a $500 million non-bank financial institution established by the Central Bank of Nigeria (CBN) to manage credit risks in the agribusiness sector, saw Abdulhameed sacked from his position as Managing Director by former President Muhammadu Buhari on December 1, 2022, amidst corruption allegations related to agricultural loans.

During the court proceedings, both defendants pleaded not guilty to the charges. Despite the prosecution counsel's request for them to be remanded in prison custody, trial Justice Inyang Ekwo decided to release them on bail, citing administrative bail earlier granted by the police.

Defence counsel, Chief Akin Olujimi, SAN, informed the court of their application for bail pending the case's determination, noting the absence of a counter-affidavit from the police challenging the bail request. The prosecution lawyer expressed opposition to the bail application and disclosed plans to present five witnesses and documentary evidence to support the charges.

In a brief ruling, Justice Ekwo directed the parties to present all exhibits during the trial, stating he would not entertain unnecessary objections to the admissibility of evidence. He scheduled the trial to commence on May 20, 22, 22, and 23, ordering the prosecution to transfer the defendants' bail particulars to the court's registry.

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