The Federal High Court Abuja, has granted former PDP Presidential campaign spokesperson, Femi Fani-Kayode, bail in the sum of N50m, and one surety in like sum.
The former aviation minister is to submit his passport and other travel documents to the court. The surety, said the court, must be an Abuja resident and own landed property in the city Abuja.
Mr. Fani-Kayode was arraigned on fresh charges bordering on corruption, criminal breach of trust and diversion of funds by the Economic and Financial Crimes Commission (EFCC). The alleged offences are punishable under the Money Laundering Prohibition Act (2011) as amended in 2012.
He pleaded not guilty to the five-count charge filed against him when he took his plea. He was accused of receiving N26m from former National Security Adviser, Colonel Sambo Dasuki (retd.).
The money originated from the $2.1 billion allocated for the purchase of arms.