Mr Olatoye, who represents Lagelu/Akinyele Federal Constituency, was shot dead on March 9 around Lalupon garage.
Admitting Mr Akinmoyede to bail, Mashud Abass, the judge, ordered him to produce two sureties in like sum one of who must be a civil servant not below GL14 or member of the state House or National Assembly members.
Mr Abass ordered that the second surety must be a blood relation with landed property worth N50m.
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