The immediate past governor of Ekiti State has been granted bail of fifty million(N50m) by the Justice of the Federal High Court in Lagos, Justice Mojisola Olatoregun.
Fayose is facing court hearing over 11 count charges connecting money laundering, public office abuse, criminal breach of trust and stealing and about N6.9bn charged against him by the Economic and Financial Crime Commission, EFCC.
Fayose was on Monday denied bail by the court when he appeared for his trial, the judge odered that he be remanded under the custody of EFCC and the was adjourned till today wednesday.
Fayose had pleaded not guilty to the charges against him when they were read to him in court on Monday.
On his resumed hearing today, the Judge granted the ex-governor a bail of N50 million with two sureties who must issue a N50 million bond in a prestigious bank as well as possess three years tax clearance. The judge also ruled that Fayose deposit his international passport with the court.
Earlier, Fayose’s counsel, Kanu Agabi, pleaded with the court to grant his client bail based on self recognition. He also sought the bail on the grounds that Fayose voluntarily submitted himself to EFCC.
The counsel to EFCC objected to the bail application, saying it is still tracing illegal properties acquired by the former governor.
The commission also said that Fayose be denied bail because he had come to the commission’s headquarters with thugs who tried to attack the commission but after hearing pleas from both sides, the judge granted the former governor bail.