Finally, Court releases Fani-Kayode on N250 million bail
This post has been updated.
Finally, former Aviation Minister, Femi Fani-Kayode, can go home.
A Federal High Court sitting in Ikoyi, Lagos, on Monday, granted him bail in the sum of N250 million and two sureties in like sum.
He is also required to deposit his international passport with the court.
Fani-Kayode is being prosecuted alongside former Finance Minister, Nenadi Usman and businessman, Danjuma Yusuf, by the Economic and Financial Crimes Commission, EFCC, for an alleged fraud of N4.9 billion.
Presiding Justice Sule Hassan had, after hearing arguments for and against the suspects’ application for bail on Friday, moved his ruling till today, July 04, 2016.
The sureties, Hassan ruled, must be owners of landed properties within the court’s jurisdiction, and must also present evidence of tax clearance in the state.
Fani-Kayode was detained by the Economic and Financial Crimes Commission, EFCC, after he was invited for a chat at their office on Monday, May 9, 2016.
He was first arraigned on Wednesday, June 27, 2016 before the same court which ordered that he be remanded in prison custody.
He and the two others attended court from prison on Friday..
