Justice Nnamdi Dimgba of the Federal High Court, Abuja, has granted bail to Mr Abiodun Agbele, an ally of the Ekiti State Governor, Ayodele Fayose.
The court said it recognized the importance of presumption of innocence of an accused until proven guilty.
Agbele is to provide two sureties who must sign bail bond of N250m each. The sureties must also have property in Abuja or Lagos.
The judge yesterday remanded an associate of the Ekiti State Governor, Ayodele Fayose, Mr. Abiodun Agbele, in Kuje Prison.
Agbele was arraigned by the Economic and Financial Crimes Commission, EFCC, on an 11 count charge of money laundering involving the sum of N1,219,000,000 said to be part of N4,685,723,000 allegedly transferred from the Office of the National Security Adviser, ONSA.
EFCC also arraigned Agbele alongside Sylvan Mcnamara Limited, a company owned by former Minister of State for Defence, Musiliu Obanikoro.