Court grants Fayose N50m bail after days in EFCC custody

Former Ekiti state governor, Ayodele Fayose on Wednesday was granted N50 million bail by a Federal High Court in Lagos, bringing to an end his over eight days detention in the custody of the Economic and Financial Crimes Commission (EFCC).

Fayose had last Tuesday surrendered himself to EFCC before the anti-graft agency arraigned him on an 11-count charge of fund misappropriation and abuse of office while he held office on Monday.

The charges against Fayose are stealing, receiving money from Musiliu Obanikoro, a former minister, criminal breach of trust, illegal acquisition of property in Abuja and Lagos and illegally acquiring property in the name of his sister in Abuja, among others.

Although, his counsel, Kanu Agabi (SAN) filed an application for his bail, the trial judge, Morenikeji Olatoregun deferred ruling on the application after the prosecuting counsel, Rotimi Jacob (SAN) requested for time to study the application.

On Wednesday when the trial resumed, Justice Olatoregun considered the application and grant it with conditions that two sureties who have property in Lagos and three years tax clearance must sign his bail bond.

But he will remain in EFCC custody until he meets the bail terms pronounced by the court.

The former governor was also directed to submit his passport to the court’s registrar.

The case was adjourned to November 19.

Large supporters of the former governor who were in the court premises busted into wild jubilation when the heard that his bail application was granted.