A Federal High Court in Lagos, on Friday remanded the Peopleís Democratic Party, PDP, chairman in Ondo State, Clement Faboyede, and the partyís campaign director-general during the 2015 general election, Modupe Adetokunbo. Justice Saliu Saidu remanded both men in prison following their arraignment for allegedly receiving and laundering N500 million in the build-up to the 2015 general election. The duo were brought before the judge on a three-count charge of conspiracy and money laundering by the Economic and Financial Crimes Commission, EFCC. EFCC counsel, Ekene Iheanacho, told the judge that Faboyede, Adetokunbo and others at large committed the offences on or about the March 27, 2015. Iheanacho alleged that they conspired to accept cash payment in the sum of N500m from one Owolanke Micheal which exceeded the N5 million threshold for which one need not go through a financial institution. In count three of the charge, marked FHC/ L/201C/2018, the anti-graft agency alleged that Faboyede, on March 27, 2015, paid the N500m to the PDP Ondo State Election Committee, without going through a financial institution. According to the prosecutor, the offences contravened Section 1 of the Money Laundering (Prohibition) Act, 2011 (as amended by Act 1 of 2012) and was punishable under Section 16(2) of the same Act. Both defendants pleaded not guilty. Iheanacho prayed the court to remand them in prison and fix a trial date. This was opposed by defence counsel, Eyitayo Jegede SAN, who made an oral application for their bail. But Justice Saidu directed Jegede to apply for their bail in writing.
Responding, Jegede informed the court that he had filed a formal bail application but it had yet to reach the courtís file.Nevertheless, the judge remanded both defendants in prison custody pending when their bail applications will be entertained, and adjourned till September 17, for trial.