Court grants Fani-Kayode N50m bail

Justice James Tsoho of the federal high court, Abuja, in his ruling today, granted Femi Fani-Kayode a bail in the sum of N50m, and one surety in like sum, after holding that the offence ne was alleged to have committed was a bailable one.

However, he ruled that Fani-Kayode be remanded in prison until he perfected his bail condition. The EFCC is prosecuting Fani-Kayode on five-counts of money laundering to the tune of N26m.
The anti-graft agency is also prosecuting him on 17-counts of money laundering ‎to the tune of N4.9bn at the Lagos division of the federal high court.