EFCC arraigns Fayose over N6.9bn fraud as judge remands him in custody
Amidst tight security on Monday, former Ekiti State Governor Ayodele Fayose appeared before a Federal High Court, Ikoyi, Lagos, to answer charges bordering on alleged involvement in N6.9 billion electioneering campaign fraud.
Fayose, who arrived the court premises with a pair of blue jeans and multi-coloured shirt at about 8:35am in a white Nissan MV350 bus marked BWR 630 AT, is being prosecuted by The Economic and Financial Crimes Commission (EFCC) alongside Abiodun Agbele on 11-count charge on money laundering/stealing.
By 9:05am, he was docked and the charge was read to him by the court registrar. He pleaded not guilty to the charges.
Upon arraignment of the accused, lead lawyer to Fayose, Mr. Kanu Agabi (SAN), informed the court of a bail application on behalf of his client.
He told the court that the application had been served on the prosecution.
Responding, the prosecuting lawyer, Mr. Rotimi Oyedepo, confirmed service of the bail application, but told the court that he required time to reply.
Justice Mojisola Olatoregun, consequently, adjourned the case till October 24 for hearing of the bail application.
Meanwhile, following a plea by Agabi on the temporary remand of Fayose, the court ordered that he be remanded in custody of the EFCC pending bail.
According to the charge, on June 17, 2014, Fayose and Agbele were said to have taken possession of the sum of N1.2 billion for purposes of funding his gubernatorial election campaign in Ekiti State, which sum they reasonably ought to have known formed part of crime proceeds.
Fayose was alleged to have received a cash payment of the sum of $5million (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.
He was also alleged to have retained the sum of N300million in his 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.
Fayose was further alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain in the FCMB accounts, the aggregate sums of N851 million which they reasonably ought to have known formed part of the proceeds of crime.
Besides, the accused was 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 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.
According to the EFCC, the offences are contrary to 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.
