N3.3bn fraud: EFCC re-arraigns Fayose on amended charge

The Economic and Financial Crimes Commission (EFCC) has re-arraigned a former Governor of Ekiti State, Ayodele Fayose and his firm, Spotless Limited, on an amended charge bordering criminal breach of trust, theft and stealing of public funds at a Federal High Court in Lagos.

The amended charge containing 11 counts dated November 24, 2021, was filed by the Economic and Financial Crimes Commission (EFCC) on November 25, 2021.

Upon his re-arraignment, Fayose pleaded not guilty to the charge and was permitted by the trial judge, Justice Chukwujekwu Aneke, to continue on the existing bail term earlier granted him.

Prior to his re-arraignment, the former governor’s trial on the initial money laundering charge continued with the cross-examination of the 11th prosecution witness, Joanne Tolulope, by Fayose’s lawyer, Ola Olanipekun (SAN). In her evidence, the witness affirmed that her company, Still Earth Limited, only dealt with Abiodun Agbele and that the company engaged the service of one Barrister Kolawole, to prepare the Deed of Assignment in respect of the property.

The witness had earlier told the court that Agbele, an ally of Fayose, bought property worth N1.3 billion from the company within four months.

Further hearing in the matter continues on Friday.

In the amended charge, Fayose and one Abiodun Agbele, who is also standing trial on alleged money laundering offences before another division of the court, were alleged to have on June 17, 2014, taken possession of N1.219 billion, to fund Fayose’s 2014 gubernatorial campaign in Ekiti State.

They were accused of committing criminal breach of trust, theft and stealing of public funds.

They were also alleged to have on the same June 17, 2014, without going through financial institutions, received the sum of $5 million from Senator Musiliu Obanikoro, who was then Minister of State for Defence.

The EFCC alleged that Fayose on April 7, 2015, retained the sum of N300 million, in his fixed  deposit account number 9013074033, domiciled in a bank.

Fayose and his company, Spotless Limited were also alleged to have between June 17 and August 4, 2014, taken control of the sum of N317 million, and deposited same in a bank account number 1010170969.

The former governor was also alleged to have between June 26 and August 27, 2014, taken control of the sum of N305.76 million, which formed part of proceeds of an unlawful act, and in his bank account number 1003126654.

He was also accused of procuring Agbele and a company, De-privateer Limited, to retain the sum of N719.490 million in a  bank account number 1013835889.

The EFCC further accused Fayose of using the sum of N270 million and N1,151,711,573 respectively, to acquire properties at Plot 1504, Yedsema Street, Maitama, Abuja from one Rabi Kundili, and Chalets 3, 4, 6 and 9, at Plot 100, Tiyamiyu Savage Street, Victoria Island, Lagos, in the name of JJ Technical Services.

Fayose was also alleged to have between October 16 and December 31, 2018, failed to declare his assets and properties, by not completing the declaration form during investigation.

The offences, according to the EFCC, are contrary to sections 15(2)(d); 1 and 16 (d) of the Money Laundering (Prohibition) Act, 2011 as amended, and punishable under section 15(3)(4); 16(2)(b) of the same Act.

He was also alleged to have acted contrary to section 27(1)(3)(c) of the EFCC (Establishment) Act, 2004.