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Court further adjourns Fayose’s money laundering trial

Credible News by Credible News
January 26, 2024
in Crime, Human Interest, Legal, News
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Court further adjourns Fayose’s money laundering trial

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The Federal High Court sitting in Lagos on Friday has further adjourned the money laundering trial of a former Governor of Ekiti state, Ayodele Fayose.

The trial was adjourned as the Judge, Justice Chukwujekwu Aneke, is said to be away on official assignment.

At the last adjourned date, the matter was slated for Jan. 26, Feb. 21 and Feb. 22, for trial.

Fayose is being prosecuted by the Economic and Financial Crimes Commission, EFCC, for alleged N6.9 billion fraud and money laundering.

He was first arraigned on Oct. 22. 2018, before Justice Mojisola Olatotegun, alongside his company, Spotless Investment Ltd., on 11 counts bordering on fraud and money laundering.

The former governor however, pleaded not guilty to the charges, and was granted bail on Oct. 24, 2018, in the sum of N50 million with sureties in like sum.

The defendant was re-arraigned before Justice Chukwujekwu Aneke on July 2, 2019, after the case was withdrawn from Olatoregun following a petition by EFCC.

Fayose equally pleaded not guilty before Aneke, who allowed him to continue on the bail granted him by Olatoregun.

 

READ ALSO: Lagos bishop bags life imprisonment for raping assistant pastor

EFCC has since opened its case before Aneke and is leading witnesses in evidence.

On June 17, 2014, Fayose and one Abiodun Agbele took possession of N1.2 billion for the purpose of funding his gubernatorial election campaign in Ekiti, according to the commission,

The commission alleged that the sum formed part of crime proceeds.

Fayose was also alleged to have received a cash payment of five million dollars from the then Minister of State for Defence, Sen. Musiliu Obanikoro, without going through any financial institution.

EFCC further alleged that the former governor retained N300 million in his bank account and took control of the aggregate sums of about N622 million which formed part of crime proceeds.

It added that Fayose procured De Privateer Ltd. and Still Earth Ltd. to retain aggregate sums of N851 million which formed part of crime proceeds.

The commission also accused Fayose of using about N1.6 billion crime proceeds to acquire property in Lagos State and Abuja.

The former governor also allegedly  used N200 million crime proceeds to acquire a property in Abuja in the name of his elder sister, Moji Oladeji.

The alleged  offences contravene Sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d) and 18 (c) of the Money Laundering Prohibition Act, 2011.

 

Credible news.ng

Tags: Ayodele FayoseEFCCFederal High CourtJustice Chukwujekwu Aneke
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