Justice Mojisola Olatoregun of the Federal High Court, Lagos, has granted bail to the former governor of Ekiti State, Ayodele Fayose.
The judge granted Fayose bail in the sum of ₦50 million with two sureties who must issue a ₦50 million bond in a reputable bank as well as show evidence of three years tax clearance.
The judge also directed that Fayose deposits his international passport with the court.
Kanu Agabi, Fayose’s lawyer, had while seeking bail for his client urged the court to grant him bail based on self-recognizance.
Agabi said that Fayose voluntarily submitted himself to the EFCC.
However, the EFCC opposed the bail request, saying Fayose arrived at the Commission’s headquarters, in the company of hoodlums who were willing to attack their officials.
The EFCC further argued that they are still investigating other properties linked to the former governor, proceeds of the alleged laundered money.
Fayose was arraigned on Monday, October 23 on an 11-count charge of conspiracy and money laundering amounting to ₦2.2 billion.
Fayose and his company, Spotless Limited, pleaded not guilty to all the charges.
Agabi had moved to secure his bail with a written application which the judge said she would go through and take a decision onn the next adjourned sitting which is Wednesday, October 24.
The judge had acknowledged that the case was a bailable one.
The EFCC said Fayose got ₦1.2 billion to fund his 2014 governorship campaign in Ekiti State, and that the money was a proceed of an unlawful act.