Money Laundering: Fayose denied self-recognizance release, granted conditional bail as ex-Ekiti governor’s corruption trial begins in November
A Federal High Court sitting in Lagos, on Wednesday, granted bail to the immediate past Governor of Ekiti State, Mr. Ayodele Fayose, to the sum of N50 million bond with one surety in like sum.
Justice Mojisola Olatoregun granted Fayose bail with two sureties in like sum, who must issue N50 million bond in a reputable bank as well as possess three years tax clearance.
She also ordered that the former governor should deposit his International Passport with the court.
The surety must possess three years tax clearance and must also secure a bond of N50 million from a reputable bank which will be forfeited if Fayose jumps bail.
Fayose was also ordered to swear to an affidavit not to tamper with the witnesses and should deposit his international passport with the chief Registrar of the court.
Earlier, Kanu Agabi, Fayose’s lawyer, urged the court to grant bail to his client based on self-recognizance on the ground that he voluntarily submitted himself to the EFCC.
But the commission opposed the bail request, saying that on the day Fayose arrived at the EFCC headquarters, he was accompanied by hoodlums who were willing to attack their officials.
The commission also argued that they are still tracing other properties acquired by the former governor with the proceeds of the alleged laundered funds.
Fayose is facing an 11-count charge of conspiracy and money laundering amounting to N2.2 billion.
The former governor and his company, Spotless Limited, pleaded not guilty to all the charges.
According to the EFCC, Fayose received N1.2 billion to fund his 2014 gubernatorial campaign in Ekiti State, a sum they said he ought to have known formed part of proceeds of an unlawful act.
Justice Olatoregun had adjourned till yesterday, for the hearing of the bail application. Trial adjourned till November 19.
