Alleged N6.9bn Fraud: EFCC Resumes Fayose’s Trial

Posted by African Examiner Featured, Latest Headlines, News Across Nigeria Saturday, October 28th, 2023

(AFRICAN EXAMINER) – A former operative of the Economic and Financial Crimes Commission (EFCC), Mr. Abubakar Aliyu Madaki has told a Federal High Court in Lagos how a former minister of state for defence, Musiliu Obanikoro, handed over the sum of N1,219,000,000 in cash to former Ekiti State governor, Ayodele Fayose.

Fayose and his firm Spotless Investment Limited are being prosecuted by the EFCC for allegedly laundering N6.9 billion.

Obanikoro had earlier narrated before the Court how N1.2 billion was allegedly taken to former Gov Ayodele Fayose of Ekiti, using an aircraft.

In continuation of his evidence today, Madaki who is the 13th Prosecution Witness, told Justice Chukwujekwu Aneke that out of the money, the former Ekiti State governor bought property worth N270million from one Rabiu Kundili in Abuja and also deposited in a fixed account the sum of N100million.

Led in evidence by the prosecution counsel, Mr Rotimi Jacobs, SAN, the EFCC operative stated that between the 17th and 27th of June 2014, a total sum of N150million cash deposit was lodged into the bank account of the 2nd Defendant (Spotless Investment Limited), by one Biodun Agbele, an aide to the former Ekiti governor, Ayodele Fayose.

The witness further told the court that on the 24th of August 2016, the sum of N168 million was also deposited into Spotless Investment Limited’s bank account.

He maintained that the money was released from the imprest accounts in the office of the Secretary to the Government of the Federation (SGF)and was part of monies under the control of the former National Security Adviser (NSA), Col. Sambo Dasuki (rtd).

He further stated that the claim by the 1st Defendant (Fayose ) that the N1,219,000,000 received from the former minister of state for defence, Musiliu Obanikoro was the campaign funds from his political party, the People’s Democratic Party, (PDP) was investigated.

He said ” In our investigation, we contacted the People’s Democratic Party secretariat in Abuja. The party denied receiving any money from the National Security Adviser, or the office of the Secretary to the Government of the Federation. The party also said it did not give any campaign money to Senator Musiliu Obanikoro to give to the first defendant.

“So the funds moved from Diamond Bank to Zenith Bank were the funds that came from the impress account which is under the control of the office of the National Security Adviser to President Goodluck, Jonathan, Colonel Sambo Dasuki.

He said opportunity was given to the first Defendant and his associate, Abiodun Agbele to explain the source of the huge sum of money deposited into the account of the 2nd Defendant but they could not give any reasonable explanation.

Justice Chukujekwu Aneke has adjourned the matter till November 24 for continuation of trial.

Fayose and his company were re-arraigned before Justice Chukwujekwu Aneke for alleged money laundering and non-declaration of his assets after an initial arraignment before Justice Mojisola Olatoregun on October 22, 2018.

The EFCC, re-arraigned Fayose and Spotless Investment Limited on an 11-count charge bordering on money laundering and stealing to the tune of N6.9bn ( Six Billion Nine Hundred Naira).

In the amended charge, Fayose and one Abiodun Agbele, who is also standing trial on alleged money laundering offences before another division of the court, were alleged to have on June 17, 2014, taken possession of N1.219 billion to fund Fayose’s 2014 gubernatorial campaign in Ekiti State.

They were accused of committing criminal breach of trust, theft and stealing of public funds.

They were also alleged to have on the same June 17, 2014, without going through financial institutions, received $5 million from Senator Musiliu Obanikoro, who was the Minister of State for Defence.

The offences, according to the EFCC, are contrary to sections 15 (2)(d); 1 and 16 (d) of the Money Laundering (Prohibition) Act, 2011 as amended, and punishable under Section 15 (3) (4); 16 (2) (b) of the same Act.

Fayose denied the allegations and pleaded not guilty to all 11 counts of charges.