In Summary: Check Out The 11-Count Charge Against Fayose

July 2, 2019
155 Views

Former Ekiti State Governor Ayo Fayose was first arraigned last October 22 on an 11-count charge of receiving and keeping N1.2billion and $5million stolen funds from the office of National Security Adviser (ONSA) contrary to the Money Laundering Act.

The Economic and Financial Crimes (EFCC) alleged that:

1. Fayose and an aide Abiodun Agbele took possession of N1.219billion from the Office of National Security Adviser (ONSA) to fund his governorship campaign knowing fund is proceed of “stealing”.

2. Received $5million from ONSA without going through financial institution contrary to the Money Laundering Act.

3. Placed N300million “proceed of stealing” in his fixed deposit account.

4. Deposited N317million in the account of Spotless Investment Limited, a company he and his family own.

5. Lodged N305,760,000 in his account when he ought to know it formed part of proceeds of an unlawful act.

6. Procured De-Privateer Limited and Agbele to retain N719,490,000.00 in their accounts.

7. Acquired a property on Plot 1504, Yedsema Street, Maitama, Abuja from Rabi Kundili with illicit N270million.

8. Used N1,151,711,573 to acquire chalets 3 and 4, 6 and 9 on Plot 100 Tiamiyu Savage Street, Victoria Island, Lagos in the name of JJ Technical Service.

9. Used N200million to acquire a property on 44, Osun Crescent, Maitama, Abuja in the name of his elder sister, Moji Oladeji.

10. Used N270million to acquire a property on Plot 1504 Yedseram Street, Maitama, Abuja in the name of Spotless Investment.

11. Procured Still Earth Limited to retain N132.5million in its account for his benefit.

Fayose pleaded not guilty to all the counts.

You may be interested

Extend Feb 10 deadline for old Naira Notes, IMF advises FG
News
3 views
News
3 views

Extend Feb 10 deadline for old Naira Notes, IMF advises FG

Webby - February 8, 2023

The International Monetary Fund (IMF) has advised the Federal Government of Nigeria to extend the February 10 deadline for the…

Factbox: Nigeria’s plan to ditch old banknotes
News
News

Factbox: Nigeria’s plan to ditch old banknotes

Webby - February 8, 2023

LAGOS, Feb 8 (Reuters) - Nigeria's Supreme Court on Wednesday restrained the government, through the central bank, from ending the…

New naira: Nigerians divided over Supreme Court ruling
News
1 views
News
1 views

New naira: Nigerians divided over Supreme Court ruling

Webby - February 8, 2023

  Nigerians have responded to the judgement of the Supreme Court stopping the Central Bank of Nigeria from implementing old…

Leave a Comment

Your email address will not be published.