Court grants N500m bail to Gov. Fayose’s aide Abiodun Agbele

Justice Nnamdi Dimgba of the Federal High Court sitting in Maitama, Abuja, has granted N500m bail to Ekiti State Gov. Fayose's aide Abiodun Agbele. A statement released by the Economic and Financial Crimes Commission confirmed this development.

Agbele who was arraigned on Wednesday on an eleven count charge bordering on conspiracy to launder the sum of over N4.6 billon, was granted bail in  the sum of N500million, which will be forfeited to the Federal Government if he absconds.

"He is to provide two sureties, a civil servant of the rank of a Director, a business man or professional in the sum of N250 million each. The accused is also to deposit his traveling documents with the Registrar and must not travel without court's permission. He is to be remanded in prison custody pending fulfillment of his bail conditions. Trial commences October 26 & 27, 2016."