A Federal High Court in Abuja on Thursday granted bail to a former Minister of Aviation, Mr. Femi Fani- Kayode, in the sum of N50m after he was arraigned on five counts of N26m fraud.
Fani-Kayode, a Director of Media and Publicity in the campaign organisation of ex-President Goodluck Jonathan, pleaded not guilty to all the five counts preferred against him by the Economic and Financial Crimes Commission.
The EFCC accused the defendant of diverting N26m allegedly received from the Office of the National Security Adviser while Sambo Dsuki was in office. The EFCC also accused him of handing the said N26m without going through financial institution as required under the Money Laundering Act. Fani-Kayode is already standing trial along with others in the Lagos Division of the Federal High Court with respect to the ONSA funds. Read more