BREAKING: Court Grants Fani-Kayode N50m Bail

A Federal High Court sitting in Abuja on Thursday granted a N50 million bail to the embattled former Minister of Aviation, Femi Fani-Kayode. The court also states that he must provide a surety in like sum and who must be and have a landed property in Abuja. He was also asked to submit his international passport and other travel documents to the court. Ruling on the bail application, the presiding Judge,  John Tsoho, ruled that the accused should be remanded in Kuje prison until he meets the conditions of his bail application.

Fani-Kayode was arraigned on fresh charges bordering on corruption, criminal breach of trust and diversion of funds by the Economic and Financial Crimes Commission (EFCC). An offence punishable  under the Money Laundering Prohibition Act (2011) as amended in 2012.  He pleaded not guilty to the five counts charge filed against him.

He was accused to have received N26m from former National Security Adviser , Sambo Dasuki as part of $2.1 billion arms deal scandal. The prosecution counsel, J. A Ojobani prayed court to remand the accused person in the prison custody pending the commencement of the trial. But the defence counsel , Akindayo Akindipe submitted that he has filed a bail application noting that the prosecution was duly served and he has replied same. The prosecution faulted the bail application sought by the defence noted that it was wrong to file such application ahead of the trial. He maintained that the accused has not been arraigned to take his plea before the application was filed. He admitted that the accused has been in their custody for 21 days noted that their action is still within the ambit of the law.  He urged the court to exercise its discretion.

The court has adjourned the case to December for trial.   Fani-Kayode was arrested on Friday, 21 October by operatives of the anti-graft agency, as he left the Federal High Court premises in Lagos.

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