Court grants Fayose N50m bail from EFCC custody

The Lagos division of the Federal High Court sitting in Ikoyi has granted a N50 million bail bond to former Ekiti State governor, Ayodele Fayose.

Former Ekiti State governor, Ayodele Fayose, (Source: Twitter/@OlayinkaLere)

Fayose is facing an 11-count charge bothering on receiving money illegally to fund his 2014 governorship campaign, among other allegations of benefitting from proceeds of money laundering.

When he was first arraigned before the court on Monday, October 22, 2018, the outspoken former governor pleaded not guilty to all the charges and pressed for bail.

During his second appearance before the court on Wednesday, October 25, the presiding judge, Justice Mojisola Olatoregun, granted him bail in the sum of N50 million with two sureties who have landed properties in Lagos and must possess three years tax clearance in the state. The judge also directed the former governor to submit his international passport to the court.

The court's decision in Fayose's favour was against the EFCC's objection to his bail request as the commission told the court on Wednesday that it is still tracing other properties acquired by the former governor with the proceeds of alleged laundered funds.

However, his lawyer, Kanu Agabi, urged the court to grant bail to the former governor based on self-recognizance, and especially because he voluntarily surrendered to the EFCC on October 16 for questioning.