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Federal Court granted Fayose N50 million bail

The Federal High Court in Lagos has granted the immediate past governor of Ekiti State, Ayodele Fayose N50 million bail.

Fayose who is facing N2.2bn fraud charges was granted bail by Justice Mojisola Olatoregun with two sureties in like sum.

The past governor is standing trial for over 11-count charge bordering on money laundering, abuse of public office, criminal breach of trust and stealing, up to the tune of N6.9bn leveled against him by the Economic and Financial Crimes Commission, EFCC. Fayose had pleaded not guilty to the charges against him when they were read to him in court on Monday.

However, at the resumed hearing today, the Judge granted the ex-governor a bail of N50 million with two sureties who must issue a N50 million bond in a reputable bank as well as possess three years tax clearance. The judge also ruled that Fayose deposit his international passport with the court. Earlier, Fayose’s counsel, Kanu Agabi, pleaded with the court to grant his client bail based on self-recognition. He also sought the bail on the grounds that Fayose voluntarily submitted himself to the EFCC.

However, counsel to EFCC objected to the bail application, saying it is still tracing illegal properties acquired by the former governor. The commission also said that bail is denied Fayose because he had come to the commission’s headquarters with thugs who tried to attack the commission, after hearing pleas from both sides, the judge granted the former governor bail.

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