Femi Fani Kayode have been granted bail to the tune of N250m today

Justice Muslim Hassam of the Federal High Court in Lagos has granted bail in the sum of N250m to former spokesperson of the PDP Presidential campaign organization, Femi Fani-Kayode, who is being tried by the Economic and Financial Crimes Commission for an alleged fraud of N4.9bn.

Also granted bail in like sum is former Minister of Finance, Nenadi Usman, one Danjuma Yusuf, who are also standing trial along with Fani-Kayode.

Part of the bail conditions requires them to provide two sureties in like sum and they must be land property owners. The judge also ordered them to deposit their passport in the custody of the court pending the outcome of the case. The court also ruled that their sureties must present evidence of tax clearance in the state.