Court Grants Fani-Kayode Bail

Former Minister of Aviation, Femi Fani-Kayode has been granted bail in the sum of N50m and a surety in like sum by the Federal High Court in Abuja.

N50m Bail For N26m Case

He had been arraigned by the EFCC on a five-count charge of money laundering to the tune of N26m. He allegedly diverted N26m allegedly received from Col. Sambo Dasuki.

The agency also accused him of not going through financial institution as required under the Money Laundering Act.

Fani-Kayode is the sole defendant in the fresh charges numbered, FHC/ABJ/CR/140/2016.

The former minister is already facing 17-count charge of money laundering before the Lagos Division of the court. He was charged along with former Finance Minister Nenadi Usman, Danjuma Yusuf and Joint Trust Dimension Nigeria Limited.

They were charged with unlawful retention, unlawful use and unlawful payment of money to the tune of N4.9bn.