N2.2BN FRAUD: COURT GRANTS FAYOSE N50 MILLION BAIL

N2.2BN FRAUD: COURT GRANTS FAYOSE N50 MILLION BAIL

The Federal High Court in Lagos on Wednesday granted a N50 million bail to former Governor of Ekiti State, Ayodele Fayose, who is facing N2.2bn fraud charges.

Justice Mojisola Olatoregun granted Fayose bail with two sureties in like sum.

Olatoregun ordered Fayose to be remanded in prison until he  was able to fulfill his bail conditions.

Fayose’s counsel, Mr Kanu Agabi SAN, in his submission urged the court to grant the accused bail on the ground that he voluntarily submitted himself to the EFCC a day after leaving office as Governor of Ekiti State, and that in addition, Fayose had no criminal record.

However, the EFCC’s prosecutor, Mr Rotimi Jacobs, SAN in his response stoutly opposed the bail application on the ground that the day Fayose appeared at the EFCC, Abuja, he came with a lot of hoodlum that nearly attacked the EFCC operatives before they were repelled.

in addition, Rotimi told the court that investigation was still ongoing to trace some of the properties bought by Fayose with the proceeds of the unlawful activities, and that if granted bail, he would scuttle investigation activities and tamper with witnesses, and urged the court not to grant him bail.

In her ruling, after listening to the submission of the two parties, the Presiding judge, Olatoregun said the granting of bail was at the discretion of the court, saying that the offence alleged to have been committed was a bailable offence and that she was inclined to grant him bail.

“Consequently, the judge granted Fayose bail in the sum of N50 million with one surety who must own a landed property  in Lagos. The surety who must possess three years tax clearance and must also secure a bond of N50 million from a reputable bank which would  be forfeited if Fayose jump bail, was also ordered to swear to an affidavit not to tamper with the witnesses and should deposit his international passport with the Chief Registrar of the  court.

Thereafter, Olatoregun adjourned till 19th of November, 2018 for trial to commence

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