Fani-Kayode is standing trial over allegations of N4.9b fraud levelled against him by the Economic and Financial Crimes Commission (EFCC).
Court grants ex minister bail
Justice Hassan also asked the former minister to keep his passport with the court, and also provide two sureties in like sum who must be owners of landed properties with the jurisdiction of the court.
Femi Fani-Kayode
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The court also requested that the sureties should provide evidence of tax payment.
The Minister of State for Finance, Nemandi Usman was also granted bail with the same conditions.
Usman was arrested by the EFCC for allegedly receiving the sum of N2.5 billion from the Central Bank of Nigeria (CBN).
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The EFCC prosecutor, Mr. Rotimi Oyedepo, revealed that Fani-Kayode committed an offence under Section 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012, punishable under Section 15(3)( 4) of the same Act, when he allegedly diverted the sum of N1.5b.
Justice Sule Hassan of the Federal High Court in Lagos, ordered the imprisonment of Femi Fani-Kayode on June 28, 2016.
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