Ex-Gov Fayose’s money laundering trial adjourned again

The court did not sit, with judge, Chukwujekwu Aneke, absent.

News Agency of Nigeria • January 26, 2024

Ayodele Fayose

The money laundering trial of ex-Governor Ayo Fayose could not proceed on Friday before the Lagos Division of the Federal High Court.

The court did not sit, with judge, Chukwujekwu Aneke, absent.

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

Mr Fayose is prosecuted by the Economic and Financial Crimes Commission (EFCC) over alleged N6.9 billion fraud and money laundering.

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

He, however, pleaded not guilty to the charges, and was granted N50 million bail on October 24, 2018, with sureties in like sum.

The defendant was, however, re-arraigned before Mr Aneke on July 2, 2019, after the case was withdrawn from Ms Olatoregun following a petition by EFCC.

Mr Fayose, again, pleaded not guilty before Mr Aneke, who allowed him to continue on the bail granted him by the previous judge.

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

According to the commission, on June 17, 2014, Mr Fayose and an associate, Abiodun Agbele, took possession of N1.2 billion for the purpose of funding his gubernatorial election campaign in Ekiti.

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

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

EFCC also 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 Mr Fayose procured De Privateer Ltd. and Still Earth Ltd. to retain aggregate sum of N851 million which formed part of crime proceeds.

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

(NAN)

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