Posted by By ADESINA AIYEKOTI and OLA AGBAJE on
Former Aviation Minister, Chief Femi Fani-Kayode got a reprieve Wednesday, as a Federal High Court granted him bail on charges of money laundering amounting to over N200 million preferred against him by the Economic and Financial Crimes Commission (EFCC).
Former Aviation Minister, Chief Femi Fani-Kayode got a reprieve Wednesday, as a Federal High Court granted him bail on charges of money laundering amounting to over N200 million preferred against him by the Economic and Financial Crimes Commission (EFCC).
Ruling on the bail application, the trial judge, Justice Ahmed Ramat Mohammed, said the accused should be allowed to go home, provided he could produce two sureties in the sum of N200 million.
Besides, one of the sureties, must also be a landed property owner in either Ikoyi or Victoria Island, while the other surety must be in position of a Director in either Federal or state Civil Service.
Justice Mohammed further pronounced that the sureties must swear to affidavit of means and deposit their titled documents with the registrar of the court.
Dismissing the counter application brought by the EFCC, praying the court to perpetually remand the accused in prison, pending the trial, Justice Mohammed held that the accused person had shown enough evidence to prove that he would not jump bail, having surrendered himself before the commission in Abuja prior to his arrangement.
Upholding the arguments canvassed by Chief Mike Ozekhome, with Chief Roberty Clarke (SAN) and Ladi Williams (SAN) the judge declared: 'The reason for bail is to ensure the presence of the accused during his trial and the accused in this case has demonstrated that he is ready to stand trial, I hereby grant him bail.'
EFCC had preferred a 47-count charge of money laundering against Fani-Kayode, alleging among others that he laundered the money through some of his aides, wife, Regina and daughter, Remilekun.
Further trial has been fixed for January 28, this year.