BREAKING: Court Grants Fayose Bail With N50m Bail

Fayose beaming with smiles as he arrived the Federal High Court, Ikoyi Lagos

It should be recalled that Fayose made a dramatic entry to the Economic and Financial Crime Commission (EFCC) headquarters on October 16, 2018, and had been in their custody.

On Monday, the Economic and Financial Crimes Commission (EFCC) arraigned Fayose on an 11-count charge bordering on abuse of office.

The trial of the Former governor of Ekiti State, Ayodele Fayose has been adjourned on Wednesday (today) after he lost out in his bid to be granted bail by the federal high court in Lagos.

Ayodele Fayose granted bail in the sum of N50 million.

His second appearance before the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, lasted less than 30 minutes.

He was also asked to provide a surety who must have landed property in Lagos. The guarantor is also required to have three-year tax clearance in Lagos.

Fayose was arraigned before Justice Mojisola Olatoregun by the Economic and Financial Crimes Commission (EFCC) on charges of corruption.

He arrived at the court premises on Wednesday around 9 am, escorted by armed security operatives and officials of the EFCC.

Fayose is facing an 11-count charge bothering on receiving illegal monies to fund his 2014 governorship campaign in Ekiti State, among other allegations of benefitting from proceeds of money laundering.