N1.2bn fraud: EFCC raises charges, re-arraigns Fayose’s ally
The Economic and Financial Crimes Commission has increased the charges against Abiodun Agbele, an ally of the former Ekiti State Governor, Ayodele Fayose, from 11 to 24.
The EFCC had in 2016 arraigned Agbele, alongside a former Minister of Defence for State, Musliu Obanikoro; Sylvan Mcnamara Limited; Lt. A.O Adewale; Tunde Oshinowo and Olalekan Ogunseye (all at large) on 11 charges of money laundering to the tune of N1. 219bn.
The EFCC said the money was part of N4.7bn allegedly transferred from the Office of the National Security Adviser in the Central Bank of Nigeria.
In the amended charges, Agbele, Sylvan Mcnamara Limited, De Privateer Ltd, and Spotless Investment Ltd were listed as the first to fourth defendants.
The EFCC accused Agbele of indirectly accepting N1.219bn cash from Obanikoro on behalf of Fayose in June 2014 without going through a financial institution.
The EFCC said he committed an offence contrary to Section 1(a) of the Money Laundering (Prohibition) Act 2011(As Amended) and punishable under Section 1503) of the same Act.
The EFCC also accused Agbele of aiding De Privateer to commit an offence to take possession of N200m which formed part of N1.219bn, “proceeds of money laundering on behalf of Ayo Fayose, contrary to section Section 18(A) of the Money Laundering Prohibition Act 2011 (as amended) and punishable under Section 18 of the same act.”
When the charges were read to him during the proceedings on Tuesday at the Federal High Court in Abuja on Tuesday, Agbele pleaded not guilty.
At the resumed trial, a former Central Bank of Nigeria’s official,
Aliyu Mukadas, while being led in evidence by counsel for the EFCC, Wahab Shittu(SAN), told the court that a total sum of N4.15bn was paid to Sylvan Mcnamara Limited’s account.
Obanikoro had, during the proceedings in November 2023, told the court that Sylvan Mcnamara Ltd’s account “was created to deal with the issue of Boko Haram in Lagos. The account was created by Taiwo Kareem and was used for the purpose of disbursing funds for election.”
On Tuesday, the ex-CBN official, Mukadas, stated that money was paid in trances to Sylvan Mcnamara Ltd’s account in Diamond Bank.
The retired CBN staff also confirmed that the National Security Adviser maintained an account with the apex bank meant to fund security operations and not elections.
He said, “I worked with CBN for 30 years at its Abuja branch and banking services department where I retired last year.
“We effected payments to all ministry or departments. The Office of the National Adviser is one of the agencies having an account with the CBN
“The purpose of the NSA’s account is for security operations; not for election purposes.
“We paid N200m to Sylvan Mcnamara Limited through Diamond Bank.
We also paid N2bn, N700m, N1bn and N225m into Sylvan Mcnamara Limited.”
When asked if he knew what the money was used for, Mukadas replied that he was not aware.
During cross-examination by Agbele’s counsel, Olalekan Ojo (SAN), Mukadas confirmed to the court that the payment mandate was verified before the payments were made.
When asked if the payment mandate showed the purpose for which the funds were to be paid to the company, the retired CBN official said, “For services rendered.”
He, however, said he had no suspicion the money was for fraudulent purposes.
Another witness called by the EFCC,
a former Chief Executive Officer of Zenith Bank, Peter Amagbo, denied that the bank funded Fayose’s re-election campaign.
He said, “We did not fund election for Ekiti State. We didn’t have any meetings with my chairman and Fayose. I have never seen Agbele before. I met Fayose once as MD/CEO. My second meeting with him was an ex-governor during a friend’s father’s funeral.”
Amagbo informed the court that the bank was with the state before the emergence of Fayose and sustained that during his tenure.
He said, “We had a relationship before Fayose and it was maintained during his time. “
When asked if he was privy to all conversations or interactions between Fayose and the bank, he said, “No. The governor deals with people in their location.”
When further asked if he was in the position to know if the bank had promised to assist Fayose, Amagbo said, “I am the head of the management of the bank. The chairman is a part-time member of the management. He needs my approval to do that and he knows that we do not sponsor elections.”
Justice Nnamdi Dimgba adjourned the matter till May 2, 2024, for the continuation of trial.
