Former governor of Ekiti State, Ayodele Fayose has been granted bail by a judge of the Lagos Division of the Federal High Court, Mojisola Olatoregun.
The judge granted bail to Mr Fayose in the sum of ₦50 million with two sureties who must issue a ₦50 million bond in a reputable bank as well as possess three years tax clearance, Punch reports.
She also directed that the former governor deposit his international passport with the court.
Earlier, Kanu Agabi, Mr Fayose's lawyer, urged the court to grant bail to his client based on self-recognizance on the ground that he voluntarily submitted himself to the EFCC.
But the commission opposed the bail request, saying that on the day Mr Fayose arrived at the EFCC headquarters, he was accompanied by hoodlums who were willing to attack their officials.
The commission also argued that they are still tracing other properties acquired by the former governor with the proceeds of the alleged laundered funds.
Mr Fayose is facing an 11-count charge of conspiracy and money laundering amounting to ₦2.2 billion.
The former governor and his company, Spotless Limited, pleaded not guilty to all the charges.
According to the EFCC, Mr Fayose received ₦1.2 billion to fund his 2014 gubernatorial campaign in Ekiti State, a sum they said he ought to have known formed part of proceeds of an unlawful act.