Former Governor of Ekiti State, Ayodele Fayose, was on Wednesday granted N50 million bail by the Federal High Court in Lagos.
The court asked him to deposit his international passport as part of the bail conditions.
His surety, who must have a landed property in Lagos, is also to present a three years tax clearance.
The court ruled on Wednesday morning when Fayose appeared for the second time. His first appearance in court was on Monday when the Economic and Financial Crimes Commission (EFCC) arraigned him on charges of corruption.
Fayose was arraigned before Justice Mojisola Olatoregun on 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.
He is being prosecuted alongside his company, Spotless Investment Ltd on an 11-count charge of N30.8 billion fraud.
He, however, pleaded not guilty to the charges.