Immediate-past governor of Ekiti State, Peter Ayodele Fayose, has been granted a N50m bail by Federal High Court sitting in Lagos. The granted granted the former governor the bail at its resumed hearing on Wednesday in a case of alleged fraud preferred against him by the Economic and Financial Crimes Commission (EFCC).
The EFCC had on Monday arraigned Fayose on an 11-count charge bordering on abuse of office and alleged N6.9Bn fraud.
The charges against Fayose include alleged stealing, alleged receiving of money from Musiliu Obanikoro, a former minister, criminal breach of trust, illegal acquisition of property in Abuja and Lagos and illegally acquiring property in the name of his sister in Abuja, among others.
The former governor pleaded not guilty to the charges and was remanded in the agency’s custody till today.
Subsequently, his counsel, Kanu Agabi, filed a bail application on behalf of his client but Mojisola Olatoregun, the presiding judge, said the application would be considered later since he was entitled to bail.
At the resumption of proceedings today, the presiding judge granted the N50 million to the former governor.