Today, The Federal High Court in Abuja has admitted Femi Fani-Kayode to bail in the sum of N50 million and one surety in like sum.
The court, however, remanded him in Kuje Prison pending the perfection of his bail condition.
Fani-Kayode was arraigned by the Economic and Financial Crimes Commission (EFCC) before Justice John Tsoho on a fresh five-count charge bordering on money laundering.
The ex-aviation minister was accused of
allegedly collecting N26 million from the office of the former National
Security Adviser, Sambo Dasuki and using the money for media campaign.
Count two of the charge read: “You, Femi
Fani-Kayode, converted N26 million cash paid from the office of the
National Security Adviser for the purpose of media campaign. You ought
to have reasonably known that the said funds formed part of an unlawful
act contrary to section 15 (2) (b) of the Money Laundering Act.”
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