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How Fayose fixed N300m in Zenith bank-EFCC

The EFCC accused Fayose to have on April 7, 2015, retained the sum of N300 million in his fixed deposit account number 9013074033, domiciled in Zenilth Bank Plc.

The Economic and Financial Crimes Commission (EFCC), on Thursday re-arraigned former Governor of Ekiti State Mr. Ayodele Fayose, and his company, Spotless Limited before a Federal High Court sitting in Lagos

Fayose and and company were re-arraigned before Justice Chukwujekwu Aneke on 11 counts charge bordering on money laundering and non declaration of his assets.

In the amended charge, Fayose and one Abiodun Agbele, who is also standing trial on alleged money laundering offences before another court in the same division were alleged to have on June 17, 2014, took 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 USD, from Senator Musiliu Obanikoro, who was them Minister of State for Defence.

The EFCC accused Fayose to have on April 7, 2015, retained the sum of N300 million in his fixed deposit account number 9013074033, domiciled in Zenilth Bank Plc.

Fayose and his company, Spotless Limited were also alleged to have between June 17 and August 4, 2014, took control of the sum of N317 million, and deposit same in Zenilth Bank Plc account number 1010170969.

The former Ekiti State Governor was also alleged to have between June 26 and August 27, 2014, took control of the sum of N305 , 760 million, which formed part of proceeds of unlawful act, and in his Zenith Banks’ account number 1003126654. While also accused of procuring Abiodun Agbele and a company, De-privateer Limited to retain the sum of N719, 490 million in Zenith Bank’s account number 1013835889.

EFCC further accused Fayose to have used the sum of N270 million and N1.151,711,573 billion 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.
Fayose denied the allegations and pleaded not guilty to all the 11 counts charges.

Prior to his rearraignment, Mrs Joanne Tolulope, 11 witness being called by the EFCC, while being cross-examined by Fayose’s counsel, Ola Olanipekun (SAN) affirmed that her company, Still Earth Limited only dealt with Mr Abiodun Agbele the associate of former Ekiti State governor Peter Ayodele Fayose who is standing trial alongside his company Spotless Investment Ltd.
When asked if she was involved in the preparation of the Deed of Assignment in respect of the properties leading to the charge, she answered and said that her company engaged the service of external lawyer, Barr Kolawole.

The witness when also probed by Mr. Olalekan Ojo (SAN) counsel to Fayose’s company, Spotless Limited, if all parties in the transaction leading to the trial are fictitious, she said she can only vouch for her company, Till Earth Limited, which deals with Mr Abiodun Agbele.

After the cross examination EFCC counsel Mr Rotimi Jacobs SAN informed the court that new amended charge have filed and he sought the court’s permission to re-arraign Fayose.
Subsequent, Fayose and his company was rearraigned on 11 count charge bordering on money and laundering and non assets declaration.

Meanwhile, Fayose’s trial continues on Friday before Justice Aneke, as the EFCC will be calling it’s 12 witness to testify against him.

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