Alleged N2.2b Fraud: ‘Fayose’s Name Not in Firm’s Transaction Record’
A Federal High Court in Lagos on Monday heard that former Ekiti State governor Ayodele Fayose was not mentioned in allegedly suspicious financial transactions involving a firm, Still Earth Ltd.
Fayose is accused by the Economic and Financial Crimes Commission (EFCC) of procuring Still Earth Ltd and another firm, De Privateer Ltd, to illegally retain the aggregate sum of N851million.
The N851 million is part of the N2.2billion the EFCC alleged that Fayose laundered alongside his company, Spotless Investment Ltd.
But an EFCC witness, Taiwo Ogundein, who told Justice Chukwujekwu Aneke how monies were deposited in tranches into Still Earth’s account, said the records of transactions did not bear Fayose’s name.
Fayose was arraigned on October 22, 2018 before Justice Mojisola Olatoregun, alongside Spotless Investment on 11 counts bordering on fraud and money laundering offences.
He was re-arraigned before Justice Aneke on July 2, 2019 after the case was withdrawn from Justice Olatoregun, following EFCC’s petition.
The defendant pleaded not guilty and was granted bail, while the case was adjourned for trial.
The commission has since opened its case before Justice Aneke, and is leading witnesses in evidence.
Led in evidence yesterday by EFCC counsel Mr. Rotimi Jacobs (SAN), Ogundein introduced himself as a First Bank relationship manager, saying Still Earth’s account was moved to him for management.