A Federal High Court in Lagos has granted bail in the sum of N250m to a former Minister of Aviation, Chief Femi Fani-Kayode, who is being tried by the Economic and Financial Crimes Commission for an alleged fraud of N4.9bn.

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Justice Muslim Hassan granted the bail with two sureties in like sum and ordered Fani-Kayode to deposit his passport in the custody of the court pending the outcome of the case.

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The sureties, the court said, must be owners of landed properties within the court’s jurisdiction.

They were also to present evidence of tax clearance in the state.

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Also admitted to bail in the same conditions were a former Minister of State for Finance, Nemandi Usman, and one Danjuma Yusuf, who were standing trial along with Fani-Kayode.



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