The Federal High Court sitting in Ikoyi, Lagos, on Wednesday granted former Governor of Ekiti State Ayodele Fayose bail in the sum of N50m.
The session on Wednesday, which is his second appearance before the court, lasted less than 30 minutes.
The court also asked Fayose 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 was arraigned before Justice Mojisola Olatoregun by the Economic and Financial Crimes Commission (EFCC) on charges of corruption.
He arrived at the court premises on Wednesday around 9am, escorted by armed security operatives and officials of the commission.
Fayose, who only left office last week, 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.