Alleged N6.9bn Fraud: Fayose’s Trial To Resume October 21

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The trial of Ayo Fayose, former Governor of Ekiti State, will now resume on 21 October, 2019, before a Federal High Court in Lagos.

According to the News Agency of Nigeria (NAN), Fayose is being prosecuted by the Economic and Financial Crimes Commission (EFCC) over N6.9billion fraud and money laundering charges.

Fayose was first arraigned on Oct. 22. 2018, before Justice Mojisola Olatotegun, alongside a company, Spotless Investment Ltd, on 11 counts on fraud and money laundering offences.

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He 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.

He was subsequently re-arraigned before Justice Chukwujekwu Aneke, on July 2. He had also pleaded not guilty to the charges and was allowed to continue on the earlier bail granted.

After his re-arraignment, Justice Aneke had granted leave for Fayose 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 a continuation of trial.

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.

He was alleged to have received a cash payment 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.

Also, he was alleged to have retained the sum of N300 million in his account and took control of the aggregate sums of about N622 million which sum he reasonably ought to have known formed part of crime proceeds.

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Fayose was alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain the aggregate sums of N851 million which they reasonably ought to have known formed part of crime proceeds.

He was alleged to have used about N1.6 billion to acquire properties in Lagos and Abuja.

He was also alleged to have spent N200 million, to acquire a property in Abuja, in the name of his elder sister Moji Oladeji.

The offences contravene 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.

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