Court grants Ayo Fayose N50m bail

The former Governor of Ekiti State,Ayodele Fayose,has been granted bail in the sum of N50 million.

Fayose was arraigned before Justice Mojisola Olatoregun by the Economic and Financial Crimes Commission (EFCC) on charges of corruption.

Fayose is facing an 11-count charge bothering on receiving money illegally to fund his 2014 governorship campaign, among other allegations of benefitting from proceeds of money laundering.

He was also asked to provide a surety who must have landed property in Lagos. The guarantor is also required to have three-year tax clearance in Lagos.

The court’s decision in Fayose’s favour was against the EFCC’s objection to his bail request as the commission told the court on Wednesday that it is still tracing other properties acquired by the former governor with the proceeds of alleged laundered funds.

However, his lawyer, Kanu Agabi, urged the court to grant bail to the former governor based on self-recognizance, and especially because he voluntarily surrendered to the EFCC on October 16 for questioning.

Until he meets the bail terms, the former governor will remain in EFCC custody.

He was also directed to submit his passport to the court’s registrar.

The case was adjourned to November 19.

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