A Federal High Court in Lagos has granted bail in the sum of N250m to a former Minister of Aviation, Chief Femi Fani-Kayode, who is being tried by the Economic and Financial Crimes Commission for an alleged fraud of N4.9bn, reports The Punch.
Justice Muslim Hassan granted the bail with two sureties in like sum and ordered Fani-Kayode to deposit his passport in the custody of the court pending the outcome of the case.
The sureties, the court said, must be owners of landed properties within the court’s jurisdiction.They were also to present evidence of tax clearance in the state.
Also admitted to bail in the same conditions was a former Minister of State for Finance, NemandiUsman, and one Danjuma Yusuf, who were standing trial along with Fani-Kayode. The 4th defendant in the charge was a company, Joint Trust Dimension Nigeria Limited.
Fani-Kayode and Mrs. Usman alongside Danjuma Yusuf and Jointrust Dimensions Nigeria Limited were on June 28, 2016 arraigned by the EFCC before Justice M. S. Hassan on a 17-count charge bordering on conspiracy, stealing, corruption and making cash payments exceeding the amount authorized by law.
They were accused to have diverted bout N4.9 billion belonging to the Federal Government of Nigeria for political and personal uses, to which they all pleaded not guilty. The EFCC has, however, listed 17 witnesses it intends to call during trial to substantiate its allegations.
The case was adjourned till October 19, 2016 for the prosecution to open its case
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