Fayose gives EFCC first knockout

• Gets N50m bail in Court

Former Governor Ayodele Fayose of Ekiti State on Wednesday gave the Economic and Financial Crimes Commission (EFCC) the first knockout when he was granted bail by Justice Mojisola Olatoregun of the Federal High Court, Ikoyi, Lagos, in the sum of N50 million.

Fayose secured the bail after spending about nine days in the detention of the EFCC; and in his second appearance before the Federal High Court, Ikoyi, Lagos, on Wednesday.

Fayose was arraigned before Justice Mojisola Olatoregun by the EFCC on 11-count charges of corruption.

Granting the bail, the Presiding judge directed the former Ekiti State Governor to provide a surety who must have landed property in Lagos. The guarantor is also required to have three-year tax clearance in Lagos.

She maintained that the surety must present a bond of N50 million from a reputable insurance company or a first line bank, acceptable to the court.

The judge insisted that there must also be the production of three years tax clearance, while the accused must ensure he attends court for trial unfailingly, otherwise, the bond would be forfeited.

The court also ordered that the international passport of the former governor should be deposited in the court’s registry.

The judge, thereafter, adjourned the case to November 19 for trial.

Fayose is facing an 11-count charge which include alleged N1.3 billion campaign fund received from former Minister of State, Defence, Obanikoro during the 2014 governorship election in Ekiti State, among other allegations of money laundry.

Fayose had on October 16, 2018, reported to the EFCC office in Abuja on completion of his tenure in the state.

The EFCC had before the appearance of the former Governor, issued series of threats before the commission later placed him on red alert.