Former governor of Ekiti state, Ayodele Fayose has been granted a N50 million bail by a Federal High Court in Ikoyi, Lagos.
Fayose and his company Spotless limited were today arraigned before the court by Economic and Financial Crime Commission (EFCC) on eleven count criminal charge of breach of trust and stealing of N4,614,750,000 and $5million.
To perfect his bail, he would 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 9am, 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.