His bail application was granted during his second appearance before the Federal High Court sitting in Ikoyi, Lagos, on Wednesday.
Fayose was arraigned before Justice Mojisola Olatoregun by the Economic and Financial Crimes Commission (EFCC) on charges of corruption.
The judge also asked him 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 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 laundry.
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