Court Adjourns Fayose’s Trial Until April 26 For Alleged N6.9 Billion

A Federal High Court in Lagos on Thursday, adjourned until April
26, the trial of former Governor of Ekiti, Ayodele Fayose, charged
with alleged N6.9 billion money laundering.

Fayose is being prosecuted by the Economic and Financial Crimes
Commission (EFCC).

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

He had 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 subsequently, re-arraigned before Justice
Chukwujekwu Aneke, on July 2, 2019, after the case was withdrawn
from Olatoregun, following EFCC’s petition.

He had also pleaded not guilty to the charges and was allowed to
continue on the earlier bail granted, while the case was adjourned
for trial.

The commission has since opened its case, and is still leading
witnesses in evidence.

Meanwhile, the case which was fixed for continuation of trial on
Thursday could not proceed following the absence of the trial
judge, Justice Chukwujekwu Aneke.

Judges of the court are said to be away on a valedictory court
session in honour of a retired brother judge, Justice Saliu
Saidu.

The event is said to be holden in Illorin.

Fayoses trial, which was previously adjourned for several dates
will now resume on April 26, April 27 and April 28
respectively.

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

Fayose was alleged to have received a cash payment 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.

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

The defendant was alleged to have procured De Privateer Ltd and
Still Earth Ltd, to retain the aggregate sums of N851 million which
they reasonably ought to have known formed part of crime
proceeds.

Besides, he 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.

He 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 contravene 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.

A Federal High Court in Lagos on Thursday, adjourned until April
26, the trial of former Governor of Ekiti, Ayodele Fayose, charged
with alleged N6.9 billion money laundering.

Fayose is being prosecuted by the Economic and Financial Crimes
Commission (EFCC).

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

He had 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 subsequently, re-arraigned before Justice
Chukwujekwu Aneke, on July 2, 2019, after the case was withdrawn
from Olatoregun, following EFCC’s petition.

He had also pleaded not guilty to the charges and was allowed to
continue on the earlier bail granted, while the case was adjourned
for trial.

The commission has since opened its case, and is still leading
witnesses in evidence.

Meanwhile, the case which was fixed for continuation of trial on
Thursday could not proceed following the absence of the trial
judge, Justice Chukwujekwu Aneke.

Judges of the court are said to be away on a valedictory court
session in honour of a retired brother judge, Justice Saliu
Saidu.

The event is said to be holden in Illorin.

Fayoses trial, which was previously adjourned for several dates
will now resume on April 26, April 27 and April 28
respectively.

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

Fayose was alleged to have received a cash payment 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.

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

The defendant was alleged to have procured De Privateer Ltd and
Still Earth Ltd, to retain the aggregate sums of N851 million which
they reasonably ought to have known formed part of crime
proceeds.

Besides, he 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.

He 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 contravene 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.