The immediate past Governor of Ekiti State, Ayodele Fayose, has been granted bail to the tune of N50 million during a Federal High Court appearance sitting in Ikoyi, Lagos on Wednesday. The whole proceeding lasted less than 30 minutes.
The presiding judge, Mojisola Olatoregun, granted the bail to Fayose on the condition of providing two sureties who must issue a N50 million bond in a reliable financial institution while possessing three years tax clearance.
She also directed that the former governor deposit his international passport with the court.
Earlier in the proceeding, the counsel to Fayose, Kanu Agabi, implored the court to grant bail based on the personality of the accused coupled with the fact he turned himself in voluntarily.
However, the bail request was denied on the grounds that Fayose arrived the EFCC headquarters in the company of hoodlums who were ready to attack their operatives.
The anti-graft agency also explained they are still investigating other assets acquired by Fayose with the proceeds of the alleged slush funds.
Fayose is facing an 11-count charge of conspiracy and money laundering amounting to ₦2.2 billion.
The former governor and his company, Spotless Limited, pleaded not guilty to all the charges.
The EFCC accused Fayose of receiving N1.2 billion slush funds to fund his 2014 gubernatorial election campaign in Ekiti State.
According to the EFCC, Fayose received ₦1.2 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.