Fayose N50 Million Bail


The Justice of the Federal High Court in Lagos, Mojisola Olatoregun has on Wednesday, granted the former governor of Ekiti state, Ayodele Fayose a N50 million bail.

Fayose has been on trial for an 11-count charge on money laundering, criminal breach of trust, abuse of public office, and stealing, up to the tune of N6.9bn tendered against him by the Economic and Financial Crimes Commission, EFCC.

Fayose who was denied bail on Monday by the court when he appeared for trial. The judge ordered that he be left under the EFCC custody as the case was adjourned till 24th October, 2015. Fayose had pleaded not guilty to the charges against him when they were read to him in court on Monday. However, as the court case was resumed on 24th, the Judge granted Fayose a bail of N50 million with condition of presenting two sureties who must issue a N50 million bond in a reputable bank as well as possess three years’ tax clearance. The judge also ruled that Fayose deposit his international passport with the court. Prior to this, Fayose’s Lawyer, Kanu Agabi, entreated the court to grant Fayose bail on the grounds of self-recognition. Read more at: https://gistmaniac.com

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