Posted by By OLA AGBAJE on
Former Governor of Ekiti State, Mr. Ayodele Fayose, regained his freedom on Monday as he was granted bail by a Federal High Court sitting in Lagos in the sum of N50 million.
Former Governor of Ekiti State, Mr. Ayodele Fayose, regained his freedom on Monday as he was granted bail by a Federal High Court sitting in Lagos in the sum of N50 million.
Fayose had been remanded in prison custody since December 17, 2007 following his arraignment by the Economic and Financial Crimes Commission (EFCC) on alleged money laundering offences.
On January 10, his counsel, Yusuf Ali (SAN), argued his bail application, which the court eventually granted on Monday.
Granting Fayose bail, the trial judge, Justice Tijani Abubakar, held that the former state chief executive deserved fair consideration for bail because he voluntarily surrendered himself to the EFCC.
He, however, stipulated certain conditions for the bail, which included two sureties, with N50 million each. The sureties must be residents of Lagos State and also own landed property in the state.
The landed property owned by the sureties must have certificates of occupancy (C of O), which must be deposited with the court.
The court also ordered that the N50 million bail bond must be deposited with its registry as well as the international passports of the ex-governor. It equally directed that Fayose must not to travel outside the country without obtaining permission from the court.
Immediately the Judge delivered the ruling, the entire court premises erupted in songs of praise from the teeming supporters of Fayose, who had waited anxiously outside.
The trial of the substantive matter has been adjourned till February 27, 28 and 29, 2008.