SAN FRANCISCO, July 04, (THEWILL) – A Federal High Court in Lagos has granted a N250 million bail to former Minister of Aviation, Femi Fani-Kayode, who is facing corruption trial before Justice Muslim Hassan, who also granted bail in the same sum to Mr. Fani-Kayode’s co-defendants, Nenadi Usman, former Finance Minister; and Danjuma Yusuf.
The Economic and Financial Crimes Commission, EFCC, had slammed a 17- count charge bordering on conspiracy, stealing, corruption and making cash payments exceeding the amount authorized by law to the tune of N4.9bn on the defendants. They however pleaded not guilty to the charges.
On June 28, the court had remanded Fani-Kayode and others in prison custody pending determination of their bail applications.
Delivering ruling on their bail application on Monday, Justice Hassan held that there was no evidence that the accused would interfere with trial if granted bail. He also stated that each of the defendants must provide two sureties who own landed properties within the court’s jurisdiction, as well as deposit their travel passports with the court.
He noted that denying the accused bail, especially as the courts prepare for vacation would not serve the interest of justice.
Accordingly, he admitted the first, second, and third accused to a bail in the sum of N250 million each with two sureties each in like sum.
Hassan added that each of the sureties must show evidence of ownership of landed properties in Lagos, and must submit their international passports at the court’s registry.
He further ordered that all the documents must be verified by the EFCC within seven days.
The judge then fixed trial for October 19, October 20, and October 21.
