Femi Fani-Kayode Court grants ex minister bail

Justice Hassan also asked the former minister to keep his passport with the court, and also provide two sureties in like sum who must be owners of landed properties with the jurisdiction of the court.

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Femi Fani-Kayode

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Justice Muslim Hassan of the Federal High Court in Lagos has granted the former minister of aviation, Femi Fani-Kayode bail in the sum of N250m

Fani-Kayode is standing trial over allegations of N4.9b fraud levelled against him by the Economic and Financial Crimes Commission (EFCC).

Justice Hassan also asked the former minister to keep his passport with the court, and also provide two sureties in like sum who must be owners of landed properties with the jurisdiction of the court.

The court also requested that the sureties should provide evidence of tax payment.

The Minister of State for Finance, Nemandi Usman was also granted bail with the same conditions.

Usman was arrested by the EFCC for allegedly receiving the sum of  N2.5 billion from the Central Bank of Nigeria (CBN).

The EFCC prosecutor, Mr. Rotimi Oyedepo, revealed that Fani-Kayode committed an offence under Section 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012, punishable  under Section 15(3)( 4) of the same Act, when he allegedly diverted the sum of N1.5b.

Justice Sule Hassan of the Federal High Court in Lagos, ordered the imprisonment of Femi Fani-Kayode on June 28, 2016.

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