A Federal High Court in Lagos has granted bail in the sum of N250m to Chief Femi Fani-Kayode, who is being tried by EFCC 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 in the custody of the court pending the outcome of the case.
The court said, the sureties 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 in the same conditions were a former Minister of State for Finance, Nemandi Usman, and one Danjuma Yusuf, who are standing trial along with Fani-Kayode. Joined as the 4th defendant in the charge was a company, Joint Trust Dimension Nigeria Limited.