Court Grants Fani-Kayode N50million Bail
A Federal High Court sitting in Abuja, on Thursday, granted bail to former Minister of Aviation, Mr. Femi Fani-Kayode, in the sum of N50 million and a surety in like sum. The former minister is to submit his passport and other travel documents to the court. The surety, said the court, must be an Abuja resident and own landed property in the city Abuja.
Ruling on the bail application, the presiding judge, Justice John Tsoho, directed that Mr. Fani-Kayode be remanded in Kuje Prison until he meets the conditions of his bail application.
Mr. Fani-Kayode was arraigned on fresh charges bordering on corruption, criminal breach of trust and diversion of funds by the Economic and Financial Crimes Commission (EFCC). The alleged offences are punishable under the Money Laundering Prohibition Act (2011) as amended in 2012.
He pleaded not guilty to the five-count charge filed against him when he took his plea. He was accused of receiving N26m from former National Security Adviser, Colonel Sambo Dasuki (retd.).
The money originated from the $2.1 billion allocated for the purchase of arms. The prosecution counsel, J. A Ojobani, prayed the court to remand the accused person in the prison custody pending the commencement of the trial.
But the defence counsel, Akindayo Akindipe, submitted that he had filed a bail application, noting that the prosecution was duly served and he has replied same.
The prosecution faulted the bail application sought by the defence, saying it was wrong to file such application ahead of the trial.
He maintained that the accused has not been arraigned to take his plea before the application was filed. He admitted that the accused has been in their custody for 21 days noted that their action is still within the ambit of the law. He urged the court to exercise its discretion. The court has adjourned the case to 14th December for trial. Mr. Fani-Kayode was arrested on Friday, October 21 by operatives of the anti-graft agency, as he left the Federal High Court premises in Lagos.