After spending about two months in both the EFCC custody and Kirikiri Prison, a Federal High Court sitting today in Lagos, has granted bail in the sum of N250m to former Minister of Aviation, Chief Femi Fani-Kayode, who is being tried by the Economic and Financial Crimes Commission for an alleged fraud of N4.9billion.
Justice Muslim Hassan who granted the bail with two sureties in like sum, ordered Fani-Kayode to deposit his passport in the custody of the court pending the outcome of the case, adding that the sureties must be owners of landed properties within the court’s jurisdiction, as well as to present evidence of tax clearance in the state.
Also admitted to bail in the same conditions were;
- A former Minister of State for Finance, Nemandi Usman
- Danjuma Yusuf, who were standing trial along with Fani-Kayode,
- 4th defendant in the charge was a company, Joint Trust Dimension Nigeria Limited.
Recall that the accused were on June 28, 2016 arraigned before Justice Hassan on 17 counts bordering on conspiracy, unlawful retention of proceeds of theft and money laundering.
Fani-Kayode, who was the spokesperson for former President Goodluck Jonathan’s campaign organisation in the 2015 general elections, 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.
The accused persons were said to have allegedly committed the offences between January 8, 2015 and March 25, 2015 in the build-up to the general elections.
But the four defendants pleaded not guilty to the charges, as the EFCC has, however, listed 17 witnesses it intends to call during trial to substantiate its allegations.
Justice Hassan adjourned till October 19, 2016 for the prosecution to open its case.