Former Ekiti State Governor, Ayodele Fayose, has been granted bail, in the sum of N50 million by a Federal High Court sitting in Ikoyi, Lagos, on Wednesday.
The immediate past Governor of Ekiti State, had on Monday, appeared before the court, charged with a N30.8 billion fraud.
Fayose is being prosecuted by the Economic and Financial Crimes Commission, EFCC, alongside his company, Spotless Investment Limited, on an 11-count charge of a N30.8 billion fraud.
He however, pleaded innocence of the offences.
The Defence Counsel, Kanu Agabi, who is a former Attorney-General of the Federation, had on the same day informed the court of a motion on notice for the bail of the accused.
He told the court that same had been served on the prosecution.
In response, the EFCC Prosecutor, Rotimi Oyedepo, confirmed service of the bail application, but told the court that he required time to reply.
Justice Mojisola Olatoregun, consequently, adjourned the case until today, for the hearing of the bail application.
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