Court Resumes Hearing of Fayose’s Alleged N6.9 Billion Money Laundering Case

A Federal High Court in Lagos resumed the hearing of the alleged N6.9 billion money laundering suit filed by the Economic and Financial Crimes Commission (EFCC) against former Governor of Ekiti State Ayodele Fayose and his firm Spotless Investment Limited.

EFCC Interrogates Former CBN Governor Emefiele over Alleged Financial Misconduct

During the recent court session, former EFCC operative Abubakar Madaki testified, detailing how former Minister of State for Defence Musiliu Obanikoro allegedly transferred N1,219,000,000 in cash to Fayose. Madaki further highlighted specific financial transactions and acquisitions made by Fayose using the purported laundered funds.

Fayose’s Alleged N6.9 Billion Money Laundering Case: EFCC Trial Update

Madaki’s testimony revealed that significant sums were deposited into the bank account of Spotless Investment Limited by an aide to Fayose, and the People’s Democratic Party (PDP) denied receiving any funds from the National Security Adviser or the office of the Secretary to the Government of the Federation, contrary to Fayose’s claims.

The investigation indicated that the funds originated from the Impress account under the former National Security Adviser, Col. Sambo Dasuki (retd). Despite being allowed to explain the source of the funds, Fayose and his associate, Abiodun Agbele, reportedly failed to provide a satisfactory account.

The trial, overseen by Justice Chukwujekwu Aneke, continues to delve into the complex web of financial transactions and allegations against the former governor and his company, Spotless Investment Limited.

Reported by the Legal Attorney Blog

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