Court Grants Fani-Kayode Bail, Set Trial Date

A Federal High Court sitting in Abuja has granted Chief Femi Fani-Kayode, a former Minister of Aviation and PDP chieftain bail in the sum of N50m and one surety in like sum.

Chief Fani-Kayode, who was campaign spokesman in the botched reelection bid of former President Goodluck Jonathan, was re-arrested by the Economic and Financial Crimes Commission (EFCC) in October and is standing trial on five-counts of money laundering to the tune of N26m.

The EFCC is also prosecuting him and four others on 17-counts of money laundering ‎to the tune of N4.9bn at the Lagos division of the Federal High court.

Justice James Tsoho in his ruling Thursday, held that the offence Fani-Kayode was being arraigned for was a bailable one and he therefore granted him bail as requested by his counsel, Afedayo Adedipe (SAN).

Justice Tsoho ruled that Fani-Kayode be remanded in prison until he perfects his bail condition.

The judge also fixed commencement of trial for December 14th.