Alleged N4.9bn fraud: Court Grants Fani Kayode, Nenadi Usman N250m Bail
Nenadi Usman, Fani-Kayode and Others[/caption]
A Federal High Court in Lagos on Monday granted former Director of Media and Publicity in the campaign organisation of ex-President Goodluck Jonathan, Chief Femi Fani-Kayode, Senator Nenadi Usman, and two others bail of N250 million each with two sureties in like sum.
The Presiding, Judge Suleiman Hassan also ordered that the sureties must be landed property owners within the jurisdiction of the court, and the title documents of such land must be verified within seven days by the Economic and Financial Crimes Commission before letting the defendants go home.
The former Aviaton Minister and his Finance counterpart were arraigned before the court by the EFCC, on a 17 – count charge of alleged conversion of N4. 9 billion.
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They pleaded not guilty to the charges.
It will be recalled that on June 28, the court had remanded Fani-Kayode and others in prison custody pending determination of their bail applications.
However, while delivering his ruling on their bail application on Monday, Justice Suleiman Hassan held that there was no evidence that the accused would interfere with trial if granted bail, noting that it would not serve the interest of justice if the accused especially as the courts prepare for vacation.
“The sureties must show evidence of having landed properties in Lagos.
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“The defendants and sureties must submit their international passport with the court’s registry,” the judge added.
He fixed trial for Oct. 19, Oct. 20, and Oct. 21.
