A federal capital territory (FCT) high court in Apo has granted bail to Olu Agunloye, former minister of power and steel, in the sum of N50 million.

Agunloye was arraigned on seven-count charges, bordering on fraudulent award of a contract and official corruption, on Wednesday.

The judge had ordered his remand in Kuje correctional centre pending hearing and ruling on the bail application.

Moving the application on Thursday, Adeola Adedipe, counsel to the former minister, prayed the court to grant bail to his client “by way of self-recognisance or in liberal terms”.