Suspected N6.9bn Fraud: EFCC Resuming Fayose’s Trial and Explaining How Obanikoro Gave Mr. Ekiti Gov. N1.2 Bn

Former Economic and Financial Crimes Commission (EFCC) agent Mr. Abubakar Aliyu Madaki testified before a Federal High Court in Lagos about how former state defence minister Musiliu Obanikoro sent former Ekiti State governor Ayodele Fayose N1,219,000,000 in cash.

The EFCC is pursuing legal action against Fayose and his company Spotless Investment Limited for purportedly laundering N6.9 billion.

Obanikoro had previously told the court how he believed an aeroplane was used to transport N1.2 billion to former Ekiti governor Ayodele Fayose.

As he continued his testimony today, Madaki, the 13th prosecution witness, informed Judge Chukwujekwu Aneke that the former governor of Ekiti State used the funds to purchase property in Abuja from a man named Rabiu Kundili for N270 million and to deposit N100 million into a fixed account.

Under the direction of Mr. Rotimi Jacobs, SAN, the prosecution’s attorney, the EFCC agent testified that on June 17 and 27, 2014, a person named Biodun Agbele, an assistant to the late Ayodele Fayose, the governor of Ekiti, deposited a total of N150 million in cash into the bank account of the second defendant, Spotless Investment Limited.

The witness further informed the court that N168 million was placed into the bank account of Spotless Investment Limited on August 24, 2016.

According to him, the funds were taken out of the Secretary to the Government of the Federation’s (SGF) impress accounts and were a portion of the funds that Col. Sambo Dasuki (rtd), the former National Security Adviser (NSA), had responsibility over.

He added that an investigation was conducted into the first defendant’s (Fayose) allegation that the N1,219,000,000 that he received from Musiliu Obanikoro, the former state minister of defence, was campaign money for his political party, the People’s Democratic Party (PDP).

“We contacted the People’s Democratic Party secretariat in Abuja as part of our investigation,” he stated. The party denied accepting any funds from the Secretary to the Government of the Federation’s office or the National Security Adviser. The party said that it did not send Senator Musiliu Obanikoro any campaign funds to give to the initial accused.

Thus, the money that was sent from Diamond Bank to Zenith Bank originated from the impress account, which is managed by Colonel Sambo Dasuki, President Goodluck Jonathan’s office of national security adviser.

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He claimed that although the first defendant and his associate, Abiodun Agbele, were given the chance to explain where the enormous amount of money that had been transferred into the second defendant’s account came from, they were unable to do so.

The case has been postponed to November 24 by Judge Chukujekwu Aneke in order to continue the trial.

Following a first arraignment before Justice Mojisola Olatoregun on October 22, 2018, Fayose and his company were re-arraigned before Justice Chukwujekwu Aneke for alleged money laundering and non-declaration of his assets.

Re-arrested on an 11-count charge pertaining to money laundering and theft totaling N6.9 billion (six billion nine hundred naira), the EFCC charged Fayose and Spotless Investment Limited.

According to the revised allegation, on June 17, 2014, Fayose and one Abiodun Agbele—who is also on trial before a different division of the court for alleged money laundering offenses—allegedly took possession of N1.219 billion in order to finance Fayose’s 2014 campaign for governor of Ekiti State.

They were charged with theft, taking public monies, and criminal breach of trust.

On June 17, 2014, they were also accused of receiving $5 million directly from Senator Musiliu Obanikoro, the State Minister for Defence, without going through financial institutions.

The Money Laundering (Prohibition) Act, 2011 as modified, sections 15 (2)(d); 1, and 16 (d) are allegedly violated by the acts, which are also punished under sections 15 (3) (4); 16 (2) (b) of the same Act.

Fayose entered a not guilty plea to each of the 11 charges, rejecting the accusations.