Fani-Kayode granted N50m bail over alleged N26m fraud, to face trial in December

An Abuja High Court has granted embattled former Minister of Aviation, Mr. Femi Fani-Kayode a N50m bail, with his trial set to commence on December 14.

Fani-Kayode was charged by the Economic and Financial Crimes Commission (EFCC) on counts of receiving N26m from the Office of the National Security Adviser while Colonel Sambo Dasuki (retd.) was in office. The sum is believed to be from the $2.1 billion allocated for the purchase of arms.

The defendant pleaded “not guilty” to the charge, and the presiding judge, Justice John Tsoho, read out his bail conditions as being a sum of N50m and one surety in like sum. The surety has to be a resident in Abuja and own a landed property in the capital city.

Channels TV reports that, pending the time Fani-Kayode meets his bail conditions, part of which is the submission of his passport and other travel documents to the court, he is to be remanded in Kuje Prison.

Mr. Fani-Kayode was arrested on Friday, October 21 by operatives of the anti-graft agency, as he left the Federal High Court premises in Lagos.