A Federal High Court in Lagos today July 4, 2016, has granted bail in the sum of N250m to Chief Femi Fani-Kayode, the former Minister of Aviation, who is being tried by the Economic and Financial Crimes Commission (EFCC) for an alleged fraud of N4.9bn.
Justice Muslim Hassan granted the bail with two sureties in like sum and ordered Fani-Kayode to deposit his passport in the custody of the court pending the outcome of the case. The both sureties must be owners of landed properties within the court’s jurisdiction and must present evidence of tax clearance in the state.
Nenandi Usman, former Minister of State for Finance, and one Danjuma Yusuf, who were standing trial along with the former Minister of Aviation, Chief Fani-Kayode were also admitted to bail in the same condition.
The accused were on June 28, 2016, arraigned before Justice Hassan on 17 counts bordering on a 17-count charge that borders on conspiracy, stealing, corruption, money laundering and unlawful retention of proceeds of theft.
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