Home » News » Witness’ absence stalls Fayose’s N2.2bn fraud trial

Witness’ absence stalls Fayose’s N2.2bn fraud trial

By Robert Egbe

A Federal Excessive Courtroom sitting in Lagos on Monday adjourned the alleged N2.2bn fraud trial of a former Ekiti governor, Ayodele Fayose until October 20, following a prosecution witness’ absence.

Financial and Monetary Crimes Fee (EFCC) prosecutor Rotimi Jacobs (SAN) advised Justice C.J. Aneke {that a} relative of the witness had been admitted to a COVID-19 isolation centre.

Mr Jacobs’ software for an adjournment was not opposed by defence counsel, Mr Olalekan Ojo (SAN),
Justice Aneke granted the applicant’s prayer.

In response to the cost, Fayose and one Abiodun Agbele have been accused of taking possession of N1.2 billion on June 17, 2014, to fund his gubernatorial election marketing campaign in Ekiti, “which sum they moderately must have recognized shaped a part of crime proceeds.”

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Fayose was alleged to have acquired a money cost of $5 million (about N1.eight billion) from a former Minister of State for Defence, Senator Musiliu Obanikoro, with out going by means of any monetary establishment and which sum exceeded the quantity allowed by regulation.

He was additionally alleged to have retained N300 million in his checking account and took management of about N622 million which sum he must have recognized shaped a part of crime proceeds.

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The previous governor was additionally alleged to have procured De Privateer Ltd and Nonetheless Earth Ltd, to retain N851 million in his checking account which they moderately must have recognized shaped a part of crime proceeds.

Moreover, the defendant was alleged to have used about N1.6 billion to amass property in Lagos and Abuja, which sums he moderately must have recognized shaped a part of crime proceeds.

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The defendant was additionally alleged to have used the sum of N200 million, to amass a property in Abuja, within the identify of his elder sister Moji Oladeji, which sum he must know additionally varieties crime proceeds.

The offences, the EFCC stated, contravened sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d), and 18 (c) of the Cash Laundering Prohibition Act 2011.

Fayose and his agency Spotless Funding Ltd pleaded not responsible.

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