Court Grants Femi Fani-Kayode N50 Million Bail

Femi Fani-Kayode

James Tsoho, justice of the federal high court, Abuja, has granted Spokesman of former President Goodluck Jonathan’s campaign organisation, bail in the sum of N50m, and one surety in like sum.

In his ruling on Thursday, Tsoho held that the offence Fani-Kayode was alleged to have committed was a bailable one.

He, therefore, granted the defendant bail as requested by Afedayo Adedipe (SAN), his counsel.

However, he ruled that Fani-Kayode be remanded in prison until he perfected his bail condition.

The Economic and Financial Crimes Commission (EFCC) is prosecuting  Fani-Kayode on five-counts of money laundering to the tune of N26m.

The anti-graft agency is also prosecuting him on 17-counts of money laundering ‎to the tune of N4.9bn at the Lagos division of the federal high court.

Before his arraignment on Thursday, he has been in the custody of the EFCC for 21 days after he was arrested‎ in Lagos and transported to Abuja.

The judge fixed December 14, for the commencement of trial.

Author

Farouk Mohammed

Farouk Mohammed is the Publisher and Lead Editor of Okay News, an international digital news platform delivering verified reporting across technology, global affairs, business, innovation, and development. He has over a decade of experience in journalism and international media, with a strong focus on geopolitics, conflict reporting, human rights, and the global digital economy.