Alleged N1.2bn laundering charge: EFCC line up 11 witnesses against Fayose


The Economic and Financial Crimes Commission (EFCC) on Monday presented its 11th witness in a case of alleged money laundering it slammed on Ekiti State former Governor, Ayodele Fayose.

The witness, Mr Sunday Alade, was the Akure Branch Manager of the Zenith Bank Plc. in 2014 when N1.2 billion was allegedly moved to the branch.

The EFCC arraigned Fayose on an 11-count charge of money laundering on Oct. 22, 2018, alongside a company, Spotless Investment Ltd.

He pleaded not guilty to the charge, and was granted bail in the sum of N50 million with one surety in like sum.

The EFCC opened its case on Nov. 19, 2018. On Jan. 21, 2018, the commission called its fifth witness, Sen. Musiliu Obanikoro, a former Minister of State for Defence.

Led in evidence on Monday by EFCC counsel, Rotimi Jacobs (SAN), Alade testified that he received a telephone call from the bank’s head of operations then, asking him to head to the Akure Airport to receive an amount of money from a customer.

“On June 17, 2014, I was in my office when I received a call from my Head of Operations, Abiodun Oshodi, saying that a customer would be coming to make a deposit into his account with the bank.

“He said in order to provide security, we should arrange for a bullion van to go to the airport to pick the cash.

“After an hour, my Head of Operations, Abiodun Oshodi, came and said the customer had arrived. He introduced Abiodun Agbele as the customer.

“He said we should prepare to go to the airport; I asked for time to arrange for security but they said that won’t be necessary as they had sufficient security. They came with MOPOL (mobile policemen) and some soldiers in a Hilux van,” Alade testified.

The witness said that he accompanied Oshodi and Agbele to the airport, along with the bullion van and security men.

Alade said: “At the airport, we waited for a few minutes before the arrival of the aircraft. Three individuals came out of the aircraft.

“Two of them walked away. The remaining person introduced himself as O. Adewale.

“The cash was offloaded into the bullion van, and we drove to Zenith Bank, Akure.”

He testified that when they arrived at the bank, the money was counted in his presence, adding that Oshodi, Adewale and Agbele were also present.

“The money was counted. It was N724 million. We were informed that there was a balance. We went back to the airport and picked N494 million.

“The total cash amounted to N1.219 billion. Another aircraft brought the N494 million. I gathered that the cash was lodged into three bank accounts – those of De-Privateer, Spotless Investment and Ayodele Fayose.

“I also understand some cash was taken away that day by Mr Agbele,” he told the court.

When asked by the prosecution counsel, who Adewale was, the witness said, “Adewale O. introduced himself as Obanikoro’s ADC.”

Asked if he knew those who walked away from the aircraft when it landed, the witness said, “One of them resembled Obanikoro. I never met him in person, but he resembled the person I saw on television and newspapers.”

Under cross-examination by defence counsel, Mr Ola Olanipekun (SAN) and Olalekan Ojo (SAN), the witness said that he was not aware of where the money came from.

On whether he knew what the money was meant for, the witness said, “Not at all.”

Justice Mojisola Olatoregun adjourned the case until May 10, for continuation of trial.

According to the EFCC, on June 17, 2014, Fayose and one Agbele allegedly took possession of N1.2 billion for the purpose of funding his gubernatorial election campaign.

The EFCC said that the defendants reasonably ought to have known that the sum formed part of crime proceeds.

The anti-graft agency also accused Fayose of receiving 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 and which sum exceeded the amount allowed by law.

It also alleged that Fayose retained N300 million in his bank account and took control of about N622 million which he ought to have known was part of crime proceeds.

The EFCC equally claimed that Fayose unlawfully used N1.6 billion to acquire property in Lagos and Abuja, adding that he used N200 million to acquire a property in Abuja in the name of his elder sister, Moji Oladeji, which sum also formed crime proceeds.

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.

Comment With Facebook

Comments (226)

  1. Magali could be the name mother and father gave her but she never really liked that name. Researching fashion is something his wife doesn’t really like but he is doing. I used to be unemployed nowadays I am a hours assistant but soon my spouce and i will start our own company. He’s always loved living in Vermont. I’ve been working on my website for quite now. Try it out here: #link#

  2. Hello! I just wish to give you a big thumbs up for the great information you’ve got here on this post. I’ll be returning to your web site for more soon.|

  3. I pay a visit daily some web sites and blogs to read posts, except this blog gives quality based content.|

  4. What’s up, its pleasant paragraph concerning media print, we all be familiar with media is a enormous source of information.|

  5. Violeta Shiflet is what’s written for my child birth certificate and she totally digs that legal name. California is the place he loves most and also his parents live nearby. Administering databases is the his primary income is produced by and his salary is really doing. One of her favorite hobbies is solving puzzles and now she is hoping to earn money with it. You can always find his website here: #link#

  6. Hi, its fastidious post about media print, we all be aware of media is a great source of facts.|

  7. Hi are using WordPress for your blog platform? I’m new to the blog world but I’m trying to get started and create my own. Do you need any html coding knowledge to make your own blog? Any help would be really appreciated!|

  8. Howdy would you mind sharing which blog platform you’re working with? I’m going to start my own blog soon but I’m having a difficult time making a decision between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your design and style seems different then most blogs and I’m looking for something completely unique. P.S Sorry for getting off-topic but I had to ask!|

  9. I visit everyday some websites and websites to read posts, however this website presents quality based content.|

  10. This is the right blog for anyone who wants to find out about this topic. You realize so much its almost hard to argue with you (not that I actually would want?HaHa). You definitely put a new spin on a topic thats been written about for years. Great stuff, just great!

  11. I simply want to tell you that I am beginner to blogging and site-building and really savored this web-site. More than likely I’m likely to bookmark your blog . You certainly come with beneficial article content. Cheers for sharing your blog.

  12. Amazing! Its genuinely awesome paragraph, I have got much clear idea about from this post.|

  13. Greetings, I believe your web site could be having web browser compatibility issues. When I look at your website in Safari, it looks fine but when opening in I.E., it’s got some overlapping issues. I merely wanted to give you a quick heads up! Besides that, fantastic site!|

  14. I could not resist commenting. Well written!|

  15. The author’s name is Lance. Her husband and her live in California. It’s not a common thing but what she likes doing is to play curling but she’s been taking on new things lately. He works like a messenger but he’s always wanted his personal business. If you need to find out more the look at his website: #link#

  16. Hi there to all, the contents present at this site are in fact awesome for people knowledge, well, keep up the good work fellows.|

  17. An impressive share, I just given this onto a colleague who was doing a little analysis on this. And he in fact bought me breakfast because I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading more on this topic. If possible, as you become expertise, would you mind updating your blog with more details? It is highly helpful for me. Big thumb up for this blog post!

  18. It’s enormous that you are getting thoughts from this post as well as from our argument made at this time.|

  19. Pretty nice post. I just stumbled upon your blog and wished to say that I have really enjoyed surfing around your blog posts. After all I’ll be subscribing to your feed and I hope you write again very soon!|

  20. Hi would you mind sharing which blog platform you’re working with? I’m going to start my own blog in the near future but I’m having a tough time selecting between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your design seems different then most blogs and I’m looking for something completely unique. P.S Sorry for getting off-topic but I had to ask!|

  21. Thanks for sharing your info. I really appreciate your efforts and I am waiting for your further post thanks once again.|

  22. Thank you for the auspicious writeup. It actually was once a entertainment account it. Glance complex to far brought agreeable from you! By the way, how could we keep up a correspondence?|

  23. Touche. Solid arguments. Keep up the great work.|

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.