Alleged N6.9bn Fraud: ‘I Received Money For Fayose At Akure Airport’

A banker, Mr. Lawrence Akande, Monday told a Federal High Court
in Lagos that sometime in 2014, he received money on behalf of
former Ekiti State Governor, Ayodele Fayose, at the Akure Airport
in Ondo State.

Fayose being prosecuted by the Economic and Financial Crimes
Commission (EFCC) on an alleged N6.9bn money laundering charge.

Akande, a banker with Zenith Bank Plc, testified as the first
prosecution witness.

He said the bank received deposits in tranches from the
embattled ex-governor after it solicited patronage from him.

Fayose was arraigned on October 22, 2018, before Justice
Mojisola Olatotegun, alongside a company, Spotless Investment Ltd,
on 11 counts of fraud and money laundering offences.

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

The defendant was re-arraigned before Justice Chukwujekwu Aneke,
on July 2.

He repeated his plea and was allowed to continue on the earlier
bail granted, while the case was adjourned for trial.

At the resumption of proceedings Monday, Mr Adebisi Adeniyi
announced appearance for the prosecution while Messrs Ola
Olanipekun (SAN) and Olalekan Ojo (SAN) appeared for the first and
second defendants respectively.

During examination-in-chief, the witness said he supervised 20
Zenith Bank branches in the three states of Oyo, Ogun and Osun.

He said in 2014 he was in Ibadan as Zonal Head of the bank.

According to him, Fayose maintained three accounts with the
bank, namely; Spotless Investment, De Privateer, and Fayose’s
personal account which he said is domiciled in Apapa.

Akande told the judge that in June 2014, he received a call from
the Fayose informing him that there would be a business transaction
in Akure.

The witness called one Biodun Oshode, who was based in Akure as
Zonal head of the bank, to handle the transaction.

Under cross examination, the witness explained that it was his
bank that solicited for patronage from the defendant.

Narrating how the patronage was sought, he said: “He has always
being my governor, and yes, as a good zonal head of my bank I
solicited patronage from him.”

Defence: “You knew the defendant (Fayose) to be someone of high
net worth through whom you got sufficient funds into your bank?

Witness: “Yes….A man of low means does not become the governor
of a state…

He also told the court that he received a call from the Fayose
to pick up money from the Akure Airport, sometime in June 2014.

At the prosecution’s instance, Justice Aneke adjourned further
proceedings till today.

According to the charge, on June 17, 2014, Fayose and one
Abiodun Agbele were said to have taken possession of the sum of
N1.2 billion, for purposes of funding his gubernatorial election
campaign in Ekiti, which sum they reasonably ought to have known
formed part of crime proceeds.

Fayose was alleged to have received a cash payment of the sum of
five million dollars, (about N1.8 billion) 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 sums of about N622
million which sum he reasonably ought to have known formed part of
crime proceeds.

Fayose was alleged to have procured De Privateer Ltd and Still
Earth Ltd, to retain the aggregate sums of N851 million which they
reasonably ought to have known formed part of crime proceeds.

Besides, the defendant was alleged to have used the aggregate
sums of about N1.6 billion to acquire properties in Lagos and
Abuja, which sums he reasonably ought to have known formed part of
crime proceeds.

He was also alleged to have used the sum of N200 million, to
acquire a property in Abuja, in the name of his elder sister Moji
Oladeji, which sum he ought to know also forms crime proceeds.

The offences contravenes 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.

Subscribe ToNairalaw News!