Court Grants Fani-Kayode N50m Bail

By Dipo Olowookere

Former spokesman of the President Goodluck Jonathan Campaign Organisation, Mr Femi Fani-Kayode, has been granted bail by a Federal High Court.

Mr Fani-Kayode was arraigned by the Economic and Financial Crimes Commission (EFCC) on a five-count charge bordering on money laundering to the tune of N26 million.

He was arrested at the premises of a high court in Lagos last month, where he is facing a 17-count charge of money laundering ‎to the tune of N4.9 billion and then taken to Abuja by the EFCC.

However, the Osun State-born politician was granted bail on Thursday by Justice James Tsoho of the Federal High Court sitting in Abuja.

In his judgement, Justice Tsoho held that Mr Fani-Kayode should pay a bail of N50 million and also provide a surety in like sum.

The judge later ruled that the suspect be remanded in prison until he perfects his bail condition.

December 14, 2016, has been fixed by the judge for the commencement of trial.