He was released Monday evening. Fayose was arraigned at a High Court in Lagos after he presented himself at the office of EFCC in Abuja.
He was later granted a N50 million bail, but failed to meet the conditions on Friday. Fayose and his company, Spotless Limited, are facing an 11-count charge of conspiracy and money laundering amounting to ₦2.2 billion.
According to the EFCC, he received ₦1.2 billion to fund his 2014 gubernatorial campaign in Ekiti State, a sum they agency said he ought to have known formed part of proceeds of an unlawful act.