N9.6Billion Fraud: Fayose’s Trial Resumes In October

By Akinwale Kasali

The Economic and Financial Crimes Commission, EFCC, will resume the trial of former Governor of Ekiti State, Ayodele Peter Fayose, on October 21 at the Federal High Court in Ikoyi, Lagos.

The EFCC is prosecuting Fayose over alleged cases of fraud and money laundering to the tune of N9.6 billion.

Fayose was earlier arraigned by the anti-graft agency on October 22, 2018, before Justice Mojisola Olatoregun, alongside a private company,  Spotless Investment Limited, on an 11 count charge of fraud and money laundering offences.
Fayose had pleaded not guilty to the charges and was granted bail on Oct. 24, 2018, in the sum of N50 million with sureties in like sum.
The defendant was subsequently re-arraigned before Justice Chukwujekwu Aneke, on July 2, 2019.

He had also pleaded not guilty to the charges and was allowed to enjoy  the earlier bail granted.

Following his re-arraignment beforeJustice Aneke, he was granted leave to travel abroad for medicals.
The court had, however, ordered that his International passport be returned to the court, on or before Sept. 16.

Aneke had then adjourned the case until Sept. 16, 17, 18, and 19 and also to Oct. 21, 22, 23, 24 and 25 for continuation of trial.
Meanwhile, the case will now come up on Oct. 21, as Judges are away for the annual conference, which takes place after the annual long vacation of the court.
Recall that during the pendency of the charge before Justice Olatoregun, EFCC had opened trial on Nov. 19, 2018, and had so far called 13 witnesses out of the 15 listed.

However, the Chief Judge of the Federal High Court, Hon. Justice Adamu Abdu-kafarati, had transferred the case from Olatoregun, to Aneke, following a petition by the EFCC.
During trial before Olatoregun, the prosecution had called witnesses, from several commercial banks, as well as a former Minister of State for Defence, Sen. Musiliu Obanikoro.
According to the charge, on June 17, 2014, Fayose and one 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.

Fayose was alleged to have received a cash payment of the sum 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.
He was also alleged to have retained the sum of N300 million in his account and took control of the aggregate sum of about N622 million which sum he reasonably ought to have known formed part of crime proceeds.
Fayose was alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain the aggregate sum of N851 million which they reasonably ought to have known formed part of crime proceeds.

Besides, the defendant 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.
He 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.