Former Minister of Aviation, Chief Femi Fani-Kayode, has been finally granted a bail by a Federal High Court sitting in Lagos. Femi Fani-Kayode, who has spent 50 days in detention, was on Monday granted bail in the sum of N250m and 2 other sureties of the same amount.
The sureties, the court said, must be owners of landed properties within the court’s jurisdiction and should also present evidence of tax clearance in the state.
The presiding judge, Justice Muslim Hassan, also ordered him to deposit his passport in the custody of the court pending the outcome of the case.
Also granted bail in the same conditions were a former Minister of State for Finance, Nemandi Usman, and one Danjuma Yusuf, who were standing trial along with Fani-Kayode.
The spokesperson for former President Goodluck Jonathan’s campaign organisation in the 2015 general elections was arrested and charged to court by the Economic and Financial Crimes Commission (EFCC) for his role in an alleged N4.9bn fraud.
He was arraigned before Justice Hassan on June 28, 2016, on a 17 counts bordering on conspiracy, unlawful retention of proceeds of theft and money laundering.
He was accused of conspiring with the others to directly and indirectly retain various sums which the EFCC claimed they ought to have reasonably known were proceeds of theft.
Fani-Kayode was also said to have allegedly committed the offences between January 8, 2015 and March 25, 2015 in the build-up to the general elections, but he however, pleaded not guilty to the charges.
The EFCC has, however, listed 17 witnesses it intends to call during trial to substantiate its allegations and Justice Hassan adjourned till October 19, 2016 for the prosecution to open its case.