Detained former Minister of Aviation, Femi Fani-Kayode (FFK) got a respite today as the Federal High Court in Lagos granted him bail in the sum of N250m. He has been in custody for weeks now and is standing trial 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 with thecourt pending the outcome of the case.
The sureties, the court said, must be owners of landed properties within the court’s jurisdiction.
They were also to present evidence of tax clearance in the state.
Also admitted to bail, with the same conditions, were a former Minister of State for Finance, Nemandi Usman, and one Danjuma Yusuf, who were standing trial along with Fani-Kayode.
The accused persons were on June 28, 2016 arraigned before Justice Hassan on 17 counts of conspiracy, unlawful retention of proceeds of theft and money laundering.
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