Crime

Trial of Former Ekiti State Governor Ayodele Fayose Adjourned as Court Reserves Judgment on Money Laundering Charges

Published

2 months ago

February 22, 2024

Stella Charles Akupue

Trial of Former Ekiti State Governor Ayodele Fayose Adjourned as Court Reserves Judgment on Money Laundering Charges

The ongoing trial of former Governor of Ekiti State, Ayodele Fayose, on charges of money laundering and fraud faced a setback as the Federal High Court in Lagos adjourned proceedings due to the absence of the presiding Judge, Justice Chukwujekwu Aneke, who was reportedly on official duty.

The trial, initiated by the Economic and Financial Crimes Commission (EFCC), revolves around allegations of a N6.9 billion fraud and money laundering scheme. Fayose, who has consistently pleaded not guilty to the charges, was arraigned in October 2018 and subsequently granted bail. With the trial now adjourned until March 8, the legal saga continues, with the EFCC presenting its case before Justice Aneke.

The trial of former Ekiti State Governor Ayodele Fayose on charges of money laundering and fraud saw a pause as the presiding Judge, Justice Chukwujekwu Aneke, was absent from the Federal High Court in Lagos, reportedly due to official duties. Consequently, the court adjourned the proceedings, reserving judgment until March 8 to allow for the continuation of the trial.

Fayose’s legal battle with the EFCC commenced in October 2018 when he was initially arraigned before Justice Mojisola Olatotegun on 11 fraud and money laundering counts. Fayose, alongside his company, Spotless Investment Ltd., pleaded not guilty to the charges and was granted bail.

The case was subsequently transferred to Justice Chukwujekwu Aneke in July 2019 following a petition by the EFCC. Fayose maintained his plea of not guilty before Justice Aneke allowed him to continue on the bail previously granted.

Throughout the trial, the EFCC has presented its case, alleging that Fayose and Abiodun Agbele received N1.2 billion to fund Fayose’s gubernatorial election campaign in Ekiti in June 2014. The commission further alleges that Fayose received five million dollars from Sen. Musiliu Obanikoro, then Minister of State for Defence, circumventing financial institutions.

The EFCC contends that Fayose held onto N300 million in his bank account and managed approximately N622 million, which were proceeds of crime. Additionally, it alleges that Fayose directed certain companies to retain total sums of N851 million, part of the proceeds of crime, and used approximately N1.6 billion to purchase properties in Lagos and Abuja.

Moreover, the commission accuses Fayose of utilizing N200 million from the proceeds of crime to acquire a property in Abuja under his elder sister’s name, Moji Oladeji.

These alleged actions are said to contravene Sections 15(1), 15(2), 15(3), 16(2)(b), 16(d), and 18(c) of the Money Laundering Prohibition Act, 2011. With the trial adjourned, the legal battle continues as both sides present their arguments before the court.

ATTENTION:

Unauthorized use and/or duplication of this material and other digital content on this website, in whole or in part, without express and written permission from Legal Attorney Blog is strictly prohibited.

Exciting news! The Legal Attorney Blog is now on WhatsApp Channels. Subscribe today by clicking the link and staying updated with the latest legal news.