Fayose Charged Over N6.9 Billion Fraud, Remanded In EFCC Custody

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Immediate past Ekiti State Governor, Ayo Fayose, escorted by EFCC personnel arrives court in Lagos
By; RAYMOND TEDUNJAYE, Lagos.
The Economic Financial Crime Commission (EFCC) on Monday arraigned the  immediate past governor of Ekiti State, Ayodele Fayose before a Lagos Division of the Federal High Court, charged with N6.9 Billion fraud.
Fayose, who is being prosecuted along side his company, Spotless Limited, however pleaded not guilty to all the charges.
Following the arraignment, his lawyer Mr. Kanu Agabi informed the court of a motion on notice for the bail of his client.
Agabi, a former Attorney General of the Federation informed the court that same had been served on the prosecution counsel.
Consequently, the trying judge,  Justice Mojisola Olatoregun ordered that he be remanded in the custody of the Economic and Financial Crimes Commission and then adjourned till October 24 for hearing of his bail application.
According to the EFCC, Mr Fayose received ₦1.2 billion to fund his 2014 gubernatorial campaign in Ekiti State, a sum they said he ought to have known formed part of the proceeds of an unlawful act.
Fayose arrived at the court premises at about 8.30 a.m, accompanied by EFCC officials and armed police officers.
Femi Fani-Kayode, a former aviation minister and member of the Peoples’ Democratic Party, was also in court “to show solidarity”.
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 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 five million dollars, (about N18 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 N300 million in his Zenith 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 alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain in their Zenith Bank and the FCMB accounts, the aggregate sums of N851 million which they reasonably ought to have known formed part of crime proceeds.
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.
The offences, according to the EFCC, 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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