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How we move Fayose N1.219 billion in cash from the airport

A financial institution official on Tuesday instructed a Federal High Court in Lagos how the financial institution took a bullion van to the Akure Airport in Ondo State to evacuate N1.219billion money from an plane in 2014.

He instructed Justice Chukwujekwu Aneke that the financial institution rendered the service on the request of former Ekiti State Governor Ayodele Fayose’s aide, Abiodun Agbele.

He mentioned the cash was deposited in three accounts, together with Fayose’s private checking account.

Fayose is being prosecuted by the Economic and Financial Crimes Commission (EFCC) over an alleged N6.9b cash laundering cost.

He was arraigned on October 22, 2018 earlier than Justice Mojisola Olatoregun, alongside a agency, Spotless Investment Ltd, on an 11-count cost of fraud and cash laundering offences.

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

The defendant was re-arraigned earlier than Justice Aneke on July 2.

He repeated his plea and was allowed to proceed on the sooner bail granted, whereas the case was adjourned for trial.

At the resumption of proceedings yesterday, Oshode was led in proof by EFCC Counsel, Mr. Rotimi Jacobs (SAN).

The witness instructed the courtroom {that a} former minister of state for defence, Musiliu Obanikoro, was current in the course of the operation on the airport “but we did not interact.”

Oshode mentioned on taking the N1.219billion money to the financial institution, Agbele provided three financial institution accounts into which the cash was to be lodged.

He listed the three accounts as these of Privateer Nigeria Ltd, Spotless Investment Ltd and “a personal account of His Excellency (Fayose).”

Oshode additionally listed “Ayodele Fayose and Mrs. Olayemi Fayose” because the signatories to the account of Spotless Investment Ltd.

When requested below cross-examination by Fayose’s lawyer, Mr. Ola Olanipekun (SAN), whether or not on “seeing such volume of money being paid into your bank,” the financial institution reported the N1.219bn lodgment to the authorities as “illicit or suspicious,” Oshode mentioned, “It was reported.”

He defined that it was the usual observe that banks should report money transactions above N1million for a person and N5million for a company physique.

When Olanipekun requested him: “Pursuant to the report, did you get any instructions to stop the transaction?” Oshode mentioned: “No.”

When the defence counsel requested whether or not Oshode would agree with him that “the transaction was not stopped because it was deemed appropriate,” the banker mentioned he agreed.

“You also agree that the defendant invited your bank because they too believed the transaction was appropriate?” Olanipekun requested.

“Yes,” Oshode responded.

When the second defence counsel, Mr. Olalekan Ojo (SAN), instructed Oshode that “at no time did you see the first defendant (Fayose) filling any teller at any branch of your bank, either in Ekiti or Akure,” the banker mentioned, “Excellency will not do that.”

Justice Aneke adjourned additional proceedings until right now.

According to the cost, on June 17, 2014, Fayose and one Abiodun Agbele had been mentioned to have taken possession of the sum of N1.2 billion, for functions of funding his gubernatorial election marketing campaign in Ekiti, which sum they moderately must have identified fashioned a part of crime proceeds.

Fayose was alleged to have acquired a money cost of the sum of 5 million {dollars}, (about N1.eight billion) from the then Minister of State for Defence, Sen. Musiliu Obanikoro, with out going by any monetary establishment.

He was additionally alleged to have retained the sum of N300 million in his account and took management of the mixture sums of about N622 million which sum he moderately must have identified fashioned a part of crime proceeds.

Fayose was alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain the mixture sums of N851million, which they moderately must have identified fashioned a part of crime proceeds.

Besides, the defendant was alleged to have used the mixture sums of about N1.6billion to amass properties in Lagos and Abuja, which sums he moderately must have identified fashioned a part of crime proceeds.

He was additionally alleged to have used the sum of N200million to amass a property in Abuja within the title of his elder sister, Moji Oladeji, which sum he must know additionally fashioned crime proceeds.

The offences contravene 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.

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