N6.9bn Fraud: Ex-Ekiti Governor, Fayose Remanded In EFCC Custody
Justice Mojisola Olatoregun of a Federal High Court, Lagos, Monday, ordered that the immediate past governor of Ekiti State, Mr. Peter Ayodele Fayose, be remanded in the custody of the Economic and Financial Crimes Commission (EFCC), till Wednesday, October 24, when his bail application would be argued.
Justice Olatoregun made the remand order after Fayose pleaded not guilty all eleven counts charge on the alleged fraud, brought against him by the EFCC.
Fayose alongside his company, Spotless Investment Nigeria Limited, and one Abiodun Agbele (not in court) were arraigned on the said fraud before the court.
He however, pleaded not guilty to the charges.
After his plea was taken, the prosecutor, Mr. Rotimi Oyedepo, pleaded with the court for a trial date, while also ask the court that Fayose be remanded pending the conclusion of trial.
Responding, Fayose’s counsel, Mr Kanu Agabi (SAN) former Attorney General of the Federation (AGF), while conceding to the trial date as requested by the prosecutor, informed the court that he had filed a motion for bail, and same has been served on the prosecution, and urged the court to hear the motion.
The prosecutor, Oyedepo, confirmed service of the bail application, but told the court that he needed time to respond.
Equally, Justice Olatoregun told the parties that the motion for Fayose’s bail is yet to be before the court.
Agagu (SAN) also pleaded with the court to remand his client, Fayose, in EFCC Custody, pending the hearing of the bail application.
After listening to the submissions of both parties, Justice Olatoregun consequently, adjourned the case till Wednesday, October 24 for hearing of the bail application.
According to the charge marked FHC/L/353c/18, EFCC alleged that on June 17, 2014, Fayose and Agbele were said to have taken possession of the sum of N1.2 billion, for purposes of funding his gubernatorial election campaign in Ekiti State, 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 and which sum exceeded the amount allowed by law.
He was also alleged to have retained the sum of N300 million in his Zenith Bank account and took control of the aggregate sums of about N622 million which sum he ought to have known formed part of crime proceeds.
Fayose was alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain in their Zenith and FCMB accounts, the aggregate sums of N851 million which they reasonably ought to have known formed part of crime proceeds.
Besides, the accused 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.
The accused 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
 former Attorney General of the Federation (AGF), while conceding to the trial date as requested){kind=link}