Justice Muslim Hassan of the Federal High Court in Lagos has granted bail to former Aviation Minister, Femi Fani-Kayode.
Mr. Fani-Kayode, who is facing corruption trial, was granted a N250 million bail
Fani-Kayode was arraigned by the Economic and Financial Crimes Commission [EFCC] last Tuesday.
He was arraigned alongside former Minister Nenadi Usman, Danjuma Yusuf and Jointrust Dimensions Nigeria Limited.
They are being prosecuted on a 17-count charge bordering on conspiracy, stealing, corruption and making cash payments exceeding the amount authorized by law.
Also granted bail was former Finance Minister, Nenadi Usman, and Danjuma Yusuf.
These two were also granted bail in like sum as Mr. Fani-Kayode.
Aside from the stipulated bail sum, each of the defendants must provide two sureties who own landed properties within the court’s jurisdiction.
They are also required to deposit their international passports with the court.
All documents, both landed property and international passports, must be deposited with the Chief Registrar of the court.
The Title Documents shall be verified by the EFCC within seven days.
The sureties shall also file affidavit of means and deposit their International passport with the court.
He adjourned till October 19, 20, and 21, for trial.
The accused persons are accused of diverting about N4.9 billion belonging to the Federal Government of Nigeria for political and personal uses.
They pleaded not guilty to the charges.
Consequently, their counsel, Ferdinand Orbih, Ifedayo Adedipe and S. I. Ameh, moved the motion for their bail.
Justice Hassan consequently adjourned proceedings to July 1 for hearing of the bail applications.
At the resumed hearing Friday, lawyers to the defendants argued the applications.
Mr. Orbih prayed the court to admit the first accused person to bail based on self-recognition pending the hearing and determination of the charges preferred against her. He also prayed the court to grant her bail on very liberal terms.
Messrs. Adedipe, Ndukwe aligned themselves with Mr. Orbih.
The prosecution counsel, Nkereuwem Anana, opposed the applications.
However, he said where the court decides to exercise its discretion in favour of the defendants, it should impose conditions that would compel them to attend trial.
Justice Hassan consequently adjourned to today for ruling and eventually granted them bail.
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