Fayose: Blow-by-blow Account Of His Court Trial on Monday

Fayose: Blow-by-blow Account Of His Court Trial on Monday

The ex-governor of Ekiti State, Ayodele Fayose, on Monday appeared for his trial before a Federal High Court, Lagos over alleged fraud of N30.8 billion levelled against him by the Economic and Financial Commission (EFCC).

The defence counsel, Kanu Agabi, notified the court of a motion on notice for the bail of the accused. According to him, the court also served the same motion on the prosecution.

The prosecutor representing the EFCC, Rotimi Oyedepo, confirmed the receipt of the bail application but requested for more time to reply.

Also Read: EFCC Charges Fayose, Lists Offences (FULL LIST)

The presiding judge, Mojisola Olatoregun, adjourned the case until October 24 for the hearing of the bail application.

In the interim, on a plea by the defence counsel to remand Fayose temporarily, the court ordered the remand of the ex-governor in custody of the EFCC pending bail.

In the charge, Fayose and Agbele took possession of the sum of N1.2 billion in order to finance his gubernatorial election in Ekiti State with the argument they ought to know the money formed part of illegal proceeds.

Fayose was reported to have taken the sum of $5 million in cash from a former Minister of State (Defence), Musiliu Obanikoro, without passing through any bank with said sum exceeding the amount allowed by the law.

The sum of N300 million is also said to be lodged in Fayose’s bank account while taking control of the total sum of about N622 million which formed part of slush funds funnelled illegally.

Fayose was also alleged to have taken over two companies in the name of De Privateer Ltd and Still Earth Ltd, in order to retain their Zenith and FCMB Bank accounts respectively. The total sum of N851 million was said to be lodged into both accounts which also formed part of the illegal slush funds.

The aggregate sum of about N1.6 billion was reported to have been spent towards acquiring properties in Lagos and Abuja which also adds towards the acquiring of slush funds.

The elder sister of Fayose, Moji Oladeji, was also reported to have bought a property in Abuja to the tune of N200 million with Fayose standing as a surety.

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.

However, Fayose pleaded not guilty when the charges were read to him and the case was adjourned to Wednesday, October 24.

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