Court Grants N250m Bail Each To Fani-Kayode And 3 Others

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The Lagos Division of the Federal High Court has granted a N250 million bail each to a former Aviation Minister, Femi Fani-Kayode, and three others charged with money laundering.

Also granted bail in the same sum by the presiding judge, Justice Muslim Hassan, are Nenadi Usman – who is a former finance minister – Danjuma Yusuf and the Joint Trust Dimension Nig. Ltd.

READ ALSO: EFCC Wants Refund Of N840m Without Trial – Fani-Kayode Alleges

The Economic and Financial Crimes Commission (EFCC) had last week Tuesday arraigned the four accused persons on a 17-count charge bordering on conspiracy, stealing, corruption and making cash payments exceeding the amount authorized by law.

Fani-Kayode and his co-defendants, are accused of diverting about N4.9 billion belonging to the Federal Government of Nigeria for political and personal uses.

READ ALSO: N1.5bn Fraud: EFCC To Arraign Fani-Kayode, Ex-Finance Minister And Others

They pleaded not guilty to the charges.

At the passing of his verdict on their bail application on Monday, the judge held that there was no evidence that the accused would interfere with trial if granted bail.

The judge also stressed that denying the accused bail, especially as the courts prepare for vacation would not serve the interest of justice.

READ ALSO: ‘I’ve Met All My Bail Conditions, Release Me’ – Fani-Kayode To EFCC

However, Hassan stated that each of the defendants must provide two sureties who own landed properties within the court’s jurisdiction, as well as deposit their travel passports with the court.

He then adjourned till October 19, 20, and 21, for trial.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

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