N6.9bn Fraud: Fayose’s EFCC Trial Resumes Tomorrow

Fayose’s Trial Continues On Thursday

A Federal High Court in Lagos has fixed February 7 for the continuation of the trial of the immediate past Governor of Ekiti State, Ayodele Fayose, over an alleged N6.9 billion fraud.

The case, which was earlier fixed for Wednesday, for the continuation of cross-examination of the fifth prosecution witness, has been shifted to Thursday.

N6.9 Billion Fraud: See Details Of Why Judge Didn’t Continue Fayose’s Trial https://t.co/WFIXMjWSot pic.twitter.com/h0z2wMSvAa

— Naija News (@NaijaNews) February 4, 2019

On the next adjourned date, both the prosecutor, Rotimi Jacobs, and the defence counsel, Olalekan Ojo, both Senior Advocates of Nigeria, will address the court on the admissibility of an extra-judicial statement made by a party who is not standing trial.

Naija News recalls Mr Fayose was arraigned by the Economic and Financial Crimes Commission (EFCC) on October 22, 2018, alongside a company, Spotless Investment Ltd, on 11 counts.

He had pleaded not guilty to the charges and the court had granted him bail in the sum of N50 million, with one surety in like sum.

EFCC had opened the case for the prosecution on November 19, 2018, and called four witnesses.

On January 21, the prosecution called its fifth witness, Musiliu Obanikoro, a former Minister of State for Defence.

At the last adjourned date on February 5 (Tuesday), Mr Obanikoro was still under cross-examination by second defence counsel, Mr Ojo, who was expected to continue on the next date.

According to the charge, on June 17, 2014, Messrs Fayose and (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 they reasonably ought to have known formed part of crime proceeds.

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

He was also alleged to have retained N300 million in his Zenith 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.

Mr Fayose was alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain in their Zenith and FCMB 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 sum 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 Sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d), and 18 (c) of the Money Laundering Prohibition Act 2011.

source https://www.naijanews.com/2019/02/06/n6-9bn-fraud-fayoses-efcc-trial-resumes-tomorrow/