A Federal High Court in Lagos has granted a N250 million bail to former Aviation Minister, Femi Fani-Kayode, who is facing corruption trial before Justice Muslim Hassan.
The judge also granted bail in the same sum to Mr. Fani-Kayode’s co-defendants, Nenadi Usman, former Finance Minister; and Danjuma Yusuf.
Mr. Hassan also stated that each of the defendants must provide two sureties who own landed properties within the court’s jurisdiction, as well as deposit their travel passports with the court.
The sureties must have landed property within the jurisdiction of the court and deposit their Title Documents with the Chief Registrar of the court.
The Title Documents shall be verified by the EFCC within seven days. The sureties shall also file affidavit of means and deposit their International passport with the court.
He adjourned till October 19, 20, and 21, for trial.
The Economic and Financial Crimes Commission had last Tuesday arraigned Mr. Fani-Kayode former Minister Nenadi Usman alongside Danjuma Yusuf and Jointrust Dimensions Nigeria Limited before Justice Hassan on a 17-count charge bordering on conspiracy, stealing, corruption and making cash payments exceeding the amount authorized by law.
The accused persons are accused of diverting about N4.9 billion belonging to the Federal Government of Nigeria for political and personal uses.
But after they took their pleas, their counsel, Ferdinand Orbih, Ifedayo Adedipe and S. I. Ameh, moved the motion for bail, having filed separate applications in which they prayed the court to release their clients on bail.
But the prosecuting counsel, Rotimi Oyedepo, said he needed time to respond to the applications.
Justice Hassan consequently adjourned proceedings to July 1 for hearing of the bail applications.
At the resumed hearing Friday, lawyers to the defendants argued the applications.
Mr. Orbih prayed the court to admit the first accused person to bail based on self-recognition pending the hearing and determination of the charges preferred against her. He also prayed the court to grant her bail on very liberal terms.
Messrs. Adedipe, Ndukwe aligned themselves with Mr. Orbih.
The prosecution counsel, Nkereuwem Anana, opposed the applications.
However, he said where the court decides to exercise its discretion in favour of the defendants, it should impose conditions that would compel them to attend trial.
Justice Hassan consequently adjourned to today for ruling.