The ex- Minister of Aviation, Chief Femi Fani-Kayode has been granted bail of the sum of N250m by a Federal High Court sitting in Lagos.
The presiding judge, Justice Muslim Hassan granted the bail with two sureties in like sum and who must owners of landed properties close the court jurisdiction. They will also present their tax clearance in he state.He ordered Fani-Kayode to drop his international passport in the custody of the court until the outcome of the case is determined.
Others that were granted bail in the same capacity were the ex-Minister of State for Finance, Nemandi Usman, and one Danjuma Yusuf, who were standing trial along with Fani-Kayode.
It would be recalled 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 happened to be the spokes person for ex- 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 case will be re-opened on October 19, 2016.