The embattled former Ekiti State governor, Ayodele Fayose, has been granted bail in the sum of N50 million by a Federal High Court sitting in Ikoyi, Lagos.
Two sureties will be needed, who must issue a ₦50 million bond in a reputable bank as well as possess three years tax clearance.
Justice Mojisola Olatoregun also directed that the former governor deposit his international passport with the court.
In admitting Fayose to bail, the judge, following opposition from the prosecutor, turned down the request of his lawyer, Kanu Agabi, who had prayed the court to grant bail to his client based on self-recognizance on the ground that he voluntarily submitted himself to the EFCC.
Justice Olatoregun however remanded the ex-governor in prison custody until he meets the bail conditions.
She adjourned till November 19, 2018 for the commencement of trial, saying the trial would be conducted on a day-to-day basis.
Mr. Fayose is facing trial, alongside his company Spotless Limited and family.
The defendants were arraigned on Monday, October 22, 2018, on 11 counts bordering on criminal breach of trust, stealing and money laundering.
The EFCC accuses them inter-alia, that on June 17, 2014, Fayose “took possession of the sum of N1, 219, 000,000 to fund your 2014 gubernatorial campaign in Ekiti State, which you reasonably ought to have known formed part of the proceeds of an unlawful act, to wit: criminal breach of trust/stealing.”
They pleaded not guilty.