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Mr Opiyo was arraigned in court via video link.
Ugandan human rights lawyer Nicholas Opiyo has been granted bail by the high court in the capital, Kampala.
He has been in custody since his arrest last week.
The Financial Intelligence Authority accuses him of money laundering.
Several NGOs and activists in the country have had their bank accounts frozen or probed by the authority.
A charge of not filing tax returns against Mr Opiyo was dropped when he appeared in a lower court on Monday.
The civil society sector in the East African region has referred to his arrest and prosecution as an act aimed at intimidating and silencing activists.
Mr Opiyo is the head of Chapter Four, a Kampala-based human rights non-profit organisation.
He has built his career by representing human rights defenders.
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