EFCC’s 13th witness concludes evidence in trial of Fayose Alleged 6.9B fraud
A prosecution witness, Mr Abubakar Madaki, on Monday told a Federal High Court in Lagos that former Gov. Ayodele Fayose did not personally make any of the financial transactions relevant to the charge before the court.
Madaki gave the evidence under cross-examination in the ongoing trial of Fayose for N6.9 billion fraud and money laundering.
Fayose is being prosecuted by the Economic and Financial Crimes Commission (EFCC).
made from the NSA to Sivan Madnamara and that part of the money was meant to be transferred to the first defendant.
“I never said transfer, I said it was meant for the first defendant,” said the witness.
The defence counsel asked if he had investigated why a transfer was not made to the first defendant if actually the funds were meant for him.
The witness replied: “Questions were asked and investigations showed that it was meant to disguise the source of the money; so, it was given by cash to avoid traces.”
On whether he had confirmed if the funds were proceeds of drugs, the witness replied that the money was not proceeds of drugs.
The court has adjourned for continuation of trial until July 19.
According to the charge, on June 17, 2014, Fayose and one Abiodun Agbele took possession of the sum of N1.2 billion for purposes of funding his gubernatorial election campaign in Ekiti, which they reasonably ought to know formed part of crime proceeds.
Fayose was alleged to have received a cash payment of five million dollars from the then Minister of State for Defence, Sen. Musiliu Obanikoro, without going through any financial institution.
He was also alleged to have retained the sum of N300 million in his account and took control of the aggregate sum of about N622 million which he reasonably ought to have known formed part of crime proceeds.
He was further alleged to have procured De Privateer Ltd. and Still Earth Ltd., to retain the aggregate sum of N851 million which they reasonably ought to have known formed part of crime proceeds.
Besides, the defendant allegedly used the aggregate sum of about N1.6 billion to acquire properties in Lagos and Abuja, which he reasonably ought to know formed part of crime proceeds.
He also allegedly used N200 million to acquire a property in Abuja in the name of his elder sister, Moji Oladeji, which sum he ought to know also formed crime proceeds.
The alleged offences contravened 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
