Fani Kayode Gets Bail of N50m Over N26M Laundry

Former PDP presidential campaign spokesperson, Femi Fani Kayode, was Thursday, November 10, 2016 arraigned by the EFCC over money laundering to the tune of N26 million.

He was charged alongside a former Minister of Finance, Nenandi Usman, Danjuma Yusuf and a company, Joint Trust Dimension Nig. Ltd on a 17 count charge of unlawful retention, unlawful use and unlawful payment of money in the tune of about N4.9 billion, by the EFCC.

Fani-Kayode, who was Director of Media and Publicity, campaign committee of ex-President Goodluck Jonathan, was granted bail in the sum of N50 million and one surety in like sum. The case has been adjourned to Wednesday, December 14, 2016 for trial.

It would be recalled that the Economic and Financial Crimes Commission (EFCC) on Friday, 21 October, 2016 re-arrested Chief Femi Fani-Kayode, after he stepped out of a courtroom at Federal High Court sitting in Lagos, where he is standing trial.

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