Fayose Arraigned Over N30.8bn Fraud, Obanikoro Others to Testify

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… bail hearing adjourned till Wednesday

The former Governor Of Ekiti state, Ayodele Fayose has been formally arraigned by the Economic and Financial Crimes Commission (EFCC) before a Federal High Court in Lagos over fraud allegations of about N30.8billion.

The former governor, who arrived the court premises in a White Toyota Hiace bus with registration number BWR-630-AT at about  8:30am in company of officials of the EFCC and the Nigeria Police Force was all smiles as he took time to pose for the photographers on Monday.

Fayose who was flown to Lagos on Sunday night, was arraigned before Justice Mojisola Olatoregun of the court on an 11 count charge bothering on fraud and money laundering alongside his company, Spotless Limited.

Among those listed as prosecution witnesses in the matter is the former Minister of State for Defense, Senator Musiliu Obanikoro, former Group Managing Director of Diamond Bank Plc., Alex Otti and 20 others.

Fayose pleaded  not guilty to all the charges read against him, however, the bail application filed by counsel representing Fayose, Kanu Agabi SAN was refused to be heard until Wednesday, October 24, 2018 while the former Governor is to remain in EFCC custody.

In one of the charge, Fayose and Abiodun Agbele, who is currently facing a related charge, were accused to have taken possession of N1.219billion to fund the 2014 gubernatorial campaign in Ekiti state, an offence contrary to Section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) and (4) of the same Act.

Fayose was on June 17, 2017 accused of receiving cash payment in the sum of $5million, without going through any financial institution, from Senator Obanikoro, the sum which exceeded the amount authorized by law.

The charge reads in part;

“That you MR. AYODELE FAYOSE on or about 7th April, 2015 in Lagos, within the jurisdiction of this Honourable Court, did retain in your fixed deposit account No: 9013074033 with Zenith Bank Plc, the sum of N300, 000, 000.00 (Three Hundred Million Naira) which sum you reasonably ought to have known formed part of proceeds of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.

“That you MR. AYODELE FAYOSE and SPOTLESS LIMITED between 17th June, 2014 and 4th August, 2014 in Lagos, within the jurisdiction of this Honourable Court, took control of an aggregate sum of N317, 000, 000.00 (Three Hundred and Seventeen Million Naira) by depositing same into the Zenith Bank Plc’s Account No: 1010170969 belonging to SPOTLESS INVESTMENT LIMITED, a company controlled by you and members of your family and which sum you reasonably ought to have known formed part of proceeds of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.”

“That you MR. AYODELE FAYOSE between 26th June, 2014 and 27th August, 2014 in Lagos, within the jurisdiction of this Honourable Court, took control of an aggregate sum of N305, 760, 000.00 (Three Hundred and Five Million, Seven Hundred and Sixty Thousand Naira) in your Zenith Bank Account No: 1003126654 which sum you reasonably ought to have known formed part of proceeds of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.

“That you MR. AYODELE FAYOSE between 18th June, 2014 and 23rd June, 2014 within the jurisdiction of this Honourable Court, did procure DE-PRIVATEER LIMITED and one ABIODUN AGBELE to retain in their Account No: 1013835889 domiciled with Zenith Bank Plc, Apapa branch, Lagos, an aggregate sum of N719, 490, 000.00 (Seven Hundred and Nineteen Million, Four Hundred and Ninety Thousand Naira) on your behalf, which sum formed parts of proceed of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 18 (c) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act”.

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