N6.9bn fraud: EFCC begins trial of Fayose

The prosecution on Monday opened its case before a Federal High Court Lagos in the criminal trial of immediate past Governor of Ekiti, Ayodele Fayose, charged with N6.9 billion fraud.

Fayose was arraigned by the Economic and Financial Crimes Commission (EFCC) on Oct. 22 alongside his company — Spotless Investment Ltd on 11 counts.

He had pleaded not guilty to the charges, and the court granted him bail in the sum of N50million with one surety in like sum and adjourned until today, 19^th of December, 2018.

On Monday, Mr. Rotimi Jacobs (SAN) appeared for the EFCC, while Messrs Kanu Agabi (SAN) and Olalekan Ojo (SAN) represented the first and second accused respectively.

Jacobs then called on first prosecution witness, Mr. Lawrence Akande, a banker in a commercial bank in charge of South West 1, comprising Ogun, Oyo and Osun States.

Led by the prosecutor, the witness told the court that in June 2014, he was called by one Abiodun Agbele, who informed him that he had about N1.2 billion cash lodgment to make in Akure.

He told the court that afterwards, he also received a call from Fayose on the same issue, adding that since the lodgment was in Akure, he placed a call across to his colleague in Akure to follow up same.

When asked if he knew the second accused, (Spotless Ltd), he replied that the company is a customer of his bank with account at Dugbe branch.

The prosecutor then showed the witness some account opening document of Spotless Nig. Ltd, De Privateer Ltd, Still Earth Ltd as well as account document of first accused.

According to the charge, on June 17, 2014, Fayose and Agbele were said to have taken possession of the sum of N1.2 billion, for purposes of funding his gubernatorial election campaign in Ekiti State, which sum they reasonably ought to have known formed part of crime proceeds.

Fayose was alleged to have received a cash payment of the sum of five million dollars, (about N1.8 billion) from the then Minister of State for Defence, Sen. Musiliu Obanikoro, without going through any financial institution and which sum exceeded the amount allowed by law.

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He was also alleged to have retained the sum of N300 million in his bank account and took control of the aggregate sums of about N622 million which sum he ought to have known formed part of crime proceeds.

Fayose was alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain in their two bank accounts, the aggregate sums of N851 million which they reasonably ought to have known formed part of crime proceeds.

Besides, the accused was alleged to have used the aggregate sums of about N1.6 billion to acquire properties in Lagos and Abuja, which sums he reasonably ought to have known formed part of crime proceeds.

The accused was also alleged to have used the sum of N200 million, to acquire a property in Abuja, in the name of his elder sister, Moji Oladeji, which sum he ought to know also forms crime proceeds.

The offences contravened the provisions of sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d), and 18 (c) of the Money Laundering Prohibition Act 2011.