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Alleged Fraud:  Fayose's Trial Stalled over Mix-up in Trial Date

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The trial of a former governor of Ekiti State, Ayodele Fayose, for alleged money laundering could not proceed on Wednesday before a Federal High Court in Lagos, following a mix-up in the trial date.

Fayose is being prosecuted by the Economic and Financial Crimes Commission (EFCC) for a N6.9 billion fraud and money laundering charges.

He was first arraigned on 22 October 2018, before Justice Mojisola Olatotegun, alongside his company, Spotless Investment Limited, on 11 counts bordering on fraud and money laundering offenses.

He had pleaded not guilty to the charges and was granted bail on 24 October 2018, in the sum of N50 million with sureties in like sum.

The defendant was re-arraigned before Justice Chukwujekwu Aneke, on 2 July 2019, after the case was withdrawn from Justice Olatoregun, following an EFCC petition.

He, once again, pleaded not guilty to the charges and was allowed to continue on the earlier bail granted, while the case was adjourned for trial.

The commission has since opened its case before Justice Aneke and is still leading witnesses in evidence.

In December 2021, the EFCC called its 11th witness, Mrs. Joanne Tolulope, who narrated how an associate of Fayose, Abiodun Agbele, bought properties worth several millions of naira.

The matter will now be adjourned to a new date as will be agreed upon by the respective parties.

The Case Against Fayose

According to the charge, on 17 June 2014, Fayose and Agbele planned to use N1.2 billion in crime proceeds to fund the former’s governorship election campaign in Ekiti State.

The money was part of $5 million (about N1.8 billion) which Fayose had allegedly received from the then Minister of State for Defence, Senator Musiliu Obanikoro, without using any financial institution.

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

Fayose was accused of procuring two companies – De Privateer Limited and Still Earth Limited – to retain N851 million which they reasonably ought to have known formed part of crime proceeds.

He was also alleged to have bought properties in Lagos and Abuja with N1.6 billion which he reasonably should have known to form part of crime proceeds.

He was also accused of buying another property in Abuja in his elder sister Moji Oladeji’s name with N200 million which sum he ought to have known formed a part of crime proceeds.


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