Chief Femi Fani-Kayode, the Former Minister of Aviation has been grantedbail in the sum of N50m by a Federal High Court, Abuja.
The PDP chieftain was admitted to bail after he pleaded not guilty to charges filed against him by the Economic and Financial Crimes Commission (EFCC).
Fani-Kayode is standing trial over alleged N26m Money Laundering charges brought against him by the EFCC.
Justice James Tsoho, the truql judge who granted the bail ordered that the accused be remanded in Kuje Prison pending the perfection of his bail condition.
Other conditions the defendant must meet before he can enjoy the bail include a surety in like sum with property in Abuja.
The surety is expected to produce the original documents of the property for citing and inspection before the Deputy Registrar, Litigation. The defendant and the surety are both expected to produce two recent passport photographs, while he is expected to submit any travelling document with him and would only get same from the court if the need arises.
Fani-Kayode is facing a fresh five-count charge bordering on money laundering to the tune of N26m, he was said to have collected from the Office of the Former National Security Adviser, Col. Sambo Dasuki and using same for media campaign.
Fani-Kayode pleaded not guilty to all the five count charge and his counsel; Ifedayo Adedipe (SAN) consequently apply for his bail.
The case has been further fixed for December 14.