The Economic and Financial Crimes Commission (EFCC) has told Justice Chukwujekwu Aneke of a Federal High Court sitting in Ikoyi, Lagos of how the Zenith Bank Plc assisted the former governor of Ekiti State, Mr Ayodele Fayose concealed millions of naira in stolen funds.
The anti-graft agency specifically accused the former governor to have on 7th April 2015, retained the sum of Three Hundred Million (N300,000,000.00) only in his fixed deposit account number 9013074033 domiciled in Zenith Bank Plc.
In amended information dated 24th November 2021 and filed the following day, the Commission accused Mr Fayose and his company, Spotless Limited of having between 17th June and 4th August 2014, taken control of the sum of Three Hundred and Seventeen Million (N317,000,000.00) and deposited the same in his Zenith Bank Plc with the account number 1010170969.
Fayose was further alleged to have between June 26 and August 27, 2014, taking control of the sum of Three Hundred and Five Million, Seven Hundred and Sixty Thousand Naira (N305, 760, 000. 00) only which formed part of proceeds of an unlawful act, and in his Zenith Bank account number 1003126654, whilst also being accused of procuring Agbele and a company, De-Privateer Limited, to retain the sum of Seven Hundred and Nineteen Million, Four Hundred and Ninety Thousand (N719, 490, 000.00) only in Zenith Bank account number 1013835889.
Fayose and his company, Spotless Limited were also alleged to have between 17th June and 4th August 2014, taken control of the sum of Three Hundred and Seventeen Million (N317,000,000.00) and deposited the same in his Zenith Bank Plc with the account number 1010170969.
Fayose was further alleged to have between June 26 and August 27, 2014, taking control of the sum of N305, 760 million, which formed part of proceeds of an unlawful act, and in his Zenith Bank account number 1003126654, whilst also being accused of procuring Agbele and a company, De-Privateer Limited, to retain the sum of N719, 490 million in Zenith Bank account number 1013835889.
The Commission also accused the former governor of using 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 Kundli, and Chalets 3, 4, 6 and 9, at Plot 100, Tiyamiyu Savage Street, Victoria Island, Lagos, in the name of JJ Technical Services.
They were equally alleged to have on the same 17th June 2014, without going through financial institutions, received the sum of Five Million Dollars ($5,000,000.00) from Senator Musiliu Obanikoro who was then Minister of State for Defence.
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 the 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 sections 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.
The former governor is currently answering questions about the money laundering charge slammed against him before the same judge.
According to the amended charge, Fayose and his business partner, Abiodun Agbele, who is also standing trial on alleged money laundering offences before another Abuja division of the court, were alleged to have on 17th June 2014, taken possession of One Billion, Two Hundred and Nineteen Million Naira (N1. 219, 000,000.00) only to fund Fayose’s 2014 gubernatorial campaign in Ekiti State.
The duo was further accused of committing criminal breach of trust, theft and stealing of public funds
But Fayose pleaded not guilty to the 11 counts charge.
The former governor’s trial continues today.
