Court grants Fani-Kayode N50m bail for alleged N26m fraud

After three weeks in the custody of the Economic and Financial Crimes Commission (EFCC), a Federal High Court in Abuja on Thursday granted former Minister of Aviation, Mr. Femi Fani-Kayode, bail of N50 million over an alleged fraud charge of N26 million.

The former Director of Media and Publicity in the campaign organisation of ex-President Goodluck Jonathan, who was arraigned on five counts charge of N26 million, pleaded not guilty to all the charges against him by the EFCC.

First, the commission alleged that the defendant diverted N26 million received from the Office of the National Security Adviser (NSA), Sambo Dsuki while he was in office.

Again, he was accused by the EFCC of handling the alleged sum of N26 million without making use of financial institution as mandated under the Money Laundering Act.

On his arraignment on Thursday, the accused lawyer, Mr. Ifedayo Adedipe (SAN) moved his client’s bail application which the EFCC’s lawyer, Mr. Johnson Ojogbane opposed.

However, the trial judge, Justice John Tsoho, layed off the EFCC’s objection to the bail application, saying that the defendant was presumed innocent.

He therefore granted bail to Fani-Kayode in the sum of N50 million with one surety in like sum. The court also ordered the accused to deposit his passport with the court registrar pending the conclusion of his trial, as one of the conditions for the bail.

Read also: As foretold, EFCC rearrests Fani-Kayode

While the judge further instructed that the accused be remanded in prison until he was able to meet the bail conditions, Ripples Nigeria learnt that Fani-Kayode met the bail conditions before leaving the court premises.

The case was adjourned till December 14, by Justice Tsoho for commencement of trial.
Recall that Fani-Kayode is already standing trial along with others in the Lagos Division of the Federal High Court with respect to the ONSA funds.

However, in this new case, he is the only defendant in the charges marked FHC/ABJ/CR/140/2016 filed before the Abuja Division of the court.

 

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