Update: Court Adjourns Fayose’s Alleged N6.9bn Fraud Trial Till May 8

The Federal High Court sitting in Ikoyi, Lagos, on Tuesday, adjourned the trial of a former governor of Ekiti State, Ayodele Fayose, and his company, Spotless Investment Limited, over an alleged N6.9bn fraud, till May 8, 2023.

Justice Chukujekwu Aneke adjourned proceedings after listening to the testimony of the 12th prosecution witness, a former Minister of State for Defence, Senator Musiliu Obanikoro.

The Head, Media and Publicity, EFCC, Wilson Uwujaren revealed in a Tuesday night statement obtained by our correspondent.

The PUNCH reports that the Lagos Zonal Command of the Economic and Financial Crimes Commission had on Tuesday, July 2, 2019, re-arraigned Fayose and Spotless Investment Limited on an 11-count charge bordering on money laundering and stealing to the tune of N6.9billion.

 

Update: Court Adjourns Fayose’s Alleged N6.9bn Fraud Trial Till May 8

 

The defendants were first arraigned on October 22, 2018, before Justice Mojisola Olatoregun.

Uwujaren noted that at the resumed sitting on Tuesday, the 12th prosecution witness, Musiliu Obanikoro, told the court that he had no document showing that he withdrew the sum of N1.2 billion, which he allegedly gave Fayose.

He said, “During cross-examination by counsel to the second defendant, Olakekan Ojo, SAN, Obanikoro told the court that he never, at any time, showed the EFCC operatives any document showing that he gave instruction or withdrew the sum of N1.2 billion from the Diamond Bank account of Sylva McNamara Limited.

“Obanikoro, in his previous testimony, had told the court that the sum of N1.2 billion was deposited into the account of a company, Sylva McNamara, to fund “clandestine security operations” to prevent terrorists’ activities in Lagos state in two instalments.”

The EFCC PRO further noted that when asked if Obanikoro produced any resolution of the Board of Directors of Sylva McNamara, authorising him to control the management of the account of the company, he said no.

He said, “I didn’t produce any Board resolution or letter to the EFCC. Also, there was no letter from Sylva McNamara to the then Diamond Bank, telling the bank that I was asked to control and manage the account.”

Obanikoro, who said a former National Security Adviser, Sambo Dasuki, had no interactions with Fayose or Diamond Bank in respect of the N1.2billion withdrawn from the account of Sylva McNamara Limited, further told the court that the EFCC exonerated him of any wrongdoing after investigations.

When queried on whether he was ever asked to refund money to the EFCC, he said, “Yes, I refunded, as it was part of the conditions given for my release. Anywise man would do the same.”

Although he noted that he could not recall how much was refunded, however, when the counsel to the second defendant, Olakekan Ojo, SAN, asked Obanikoro if the money he refunded was between N100m and N200m, he responded, “Okay, around that.”

Obanikoro, while reacting to the question about the sum of $4bn he allegedly gave Fayose, said, ”In our line of business, it is not customary to ask for receipt or acknowledgement of such money. So, there was no confirmation of the money.”

The case was adjourned till May 8 and 9 and June 6 and 8, 2023 for the continuation of trial.

BY IYABO AINA

Publisher Of News Rain Nigeria