Alleged Money Laundering: Court Adjourns Fayose Trial To Nov. 29

Justice Chukwujekwu Aneke of the Federal High Court in Lagos yesterday adjourned the ongoing trial of a former governor of Ekiti State, Ayodele Fayose, who is facing an 11-count charge of money laundering and fraud of N3.3 billion.

Justice Aneke adjourned the case after a retired permanent secretary in the Office of the Secretary to the Government of the Federation, Ibrahim Mahe, concluded his testimony.

Mahe, the 16th prosecution witness, told the court that N2 billion disbursed into the account of Sylvan Mcnamara Ltd with Diamond Bank was for security purposes.

The EFCC had alleged in the charge that Fayose received a cash payment of N1.8 billion from the then minister of state for defence, Senator Musiliu Obanikoro, without going through any financial institution. The sum exceeded the amount allowed by law.

The commission further claimed that the accused persons allegedly retained N300 million in his Zenith Bank account and took control of the aggregate sums of about N622 million which he ought to have known formed part of crime proceeds.

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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.

The accused person was also 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 the crime proceeds.

The accused was also alleged to have used 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.

Fayose, however, pleaded not guilty to the charge.