Ayodele Fayose, the immediate past Governor of Ekiti State, has been granted bail in the sum of N50 million.
His bail was granted on Wednesday, following his appearance at the Federal High Court sitting in Ikoyi, Lagos, on Wednesday.
He was also asked to provide a surety who must have landed property in Lagos. The guarantor is also required to have three-year tax clearance in Lagos.
Fayose who was arraigned before Justice Mojisola Olatoregun by the Economic and Financial Crimes Commission (EFCC) ,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.